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Daily Newsletter Newsletter-Agri Agri Commodity 04/03/2011

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MARKET WRAP India food inflation eases, but rate rise seen Jeera falls on fresh arrivals Pepper gains on short covering Soy bean, soy oil seen extending gains Guar plunges on weak exports Chana up on short covering Cardamom weakens on active selling

As per the trade sources, prevailing cloudy weather conditions in Rajasthan and some parts of Gujarat is supporting the Jeera prices despite of poor export demand. Lower quotes of Pepper offered by Vietnam are pressurizing the prices amid weak export demand. However, limited arrivals are reporting at spot market of Kochi which might limit the losses. In Rajasthan the harvesting of Chana might start in ten days time. In the month ahead, the spot markets are expected to be flooded with the fresh crop arrivals. Traders are not interested in bulk buying as they are anticipating that growers are still holding the good quantity of cardamom produce. Poor domestic and export demand might also weigh on prices. Thus, overall sentiments are bearish but short covering on losses can’t be over ruled. We expect Guar prices to trade sideways to down due to decline in the overseas orders at higher rates and may trade in the range of Rs.2800 and Rs. 3050 per quintal. Strength in Crude oil Prices had also led to added to the bullish market sentiments in Guar. www.capitalheight.com capitalheight.wordpress.com


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TECHNICAL VIEW CARDAMOM (MAR) Trend Strategy Resistance

• Consolidate • Sell on highs • R2 - 1140 • R1 - 1120 • S1 - 1060 • S2 - 1045

Support

GUARGUM (MAR) Trend

• Consolidate • Sell on highs

Strategy

CHANA (MAR MAR) Trend Strategy

• Bearish • Sell on highs

Resistance

• R2 - 2530 • R1 - 2500

Support

• S1 - 2440 • S2 - 2400

GUARSEED (MAR MAR) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 8485 • R1 - 8320

Resistance

• R2 - 2955 • R1 - 2900

Support

• S1 - 8000 • S2 - 7835

Support

• S1 - 2780 • S2 - 2725

JEERA (MAR) Trend Strategy

• Consolidate • Sell on highs

MENTHA OIL (MAR MAR) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 17170 • R1 - 16840

Resistance

• R2 - 1185 • R1 - 1165

Support

• S1 - 16180 • S2 - 15850

Support

• S1 - 1120 • S2 - 1100

PEPPER (MAR) Trend Strategy

• Consolidate • Sell on highs

REFINED SOY OIL (MAR MAR) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 23300 • R1 - 23000

Resistance

• R2 - 650 • R1 - 640

Support

• S1 - 22170 • S2 - 21700

Support

• S1 - 620 • S2 - 610

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SOYABEAN (MAR)) Trend Strategy

• Consolidate • Sell on highs

TURMERIC (APR) (APR Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 2475 • R1 - 2445

Resistance

• R2 - 10350 • R1 - 10200

Support

• S1 - 2385 • S2 - 2355

Support

• S1 - 9900 • S2 - 9700

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