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Daily Newsletter Newsletter-Agri Agri Commodity 11/03/2011

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MARKET WRAP Spices fell on rising supply & weak exports Turmeric falls on profit booking Jeera slumps on fresh arrivals Pepper regains on short covering Soy bean, soy oil falls over 2% Chana moves up on short covering Guar falls on profit taking

The turmeric arrivals expected to rise in coming weeks could pressurize prices to some extent but traders believe export demand would determine the trend for the commodity. Low stock levels could support the rates further. Thus some firmness could be noted for the commodity amidst high volatility depending on the reports on the production and export front. Demand from US and European countries for Jeera is likely to shift more towards India in coming weeks due to low stocks in the International markets. Export demand from South-East Asian countries have been there. The trend would depend on the crop arrivals of Pepper in Vietnam and its effect on the Indian exports. Market is waiting for release of February month edible oil import data, which is likely to be released next week. Physical markets are witnessing subdued trading on poor demand and higher supply of the oil. The exporters were interest-ed in buying gum to fulfill their consignments while the availability of the same is lower. This artificial supply crunch created for guar gum is expected to support the prices. www.capitalheight.com capitalheight.wordpress.com


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TECHNICAL VIEW CARDAMOM (MAR) Trend Strategy Resistance

• Consolidate • Sell on highs • R2 - 1143 • R1 - 1121 • S1 - 1077 • S2 - 1055

Support

GUARGUM (MAR) Trend

• Consolidate • Sell on highs

Strategy

CHANA (MAR MAR) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 2550 • R1 - 2500

Support

• S1 - 2420 • S2 - 2370

GUARSEED (MAR MAR) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 8026 • R1 - 7870

Resistance

• R2 - 2810 • R1 - 2755

Support

• S1 - 7560 • S2 - 7405

Support

• S1 - 2648 • S2 - 2594

JEERA (MAR) Trend Strategy

• Consolidate • Sell on highs

MENTHA OIL (MAR MAR) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 16905 • R1 - 16580

Resistance

• R2 - 1175 • R1 - 1145

Support

• S1 - 15930 • S2 - 15605

Support

• S1 - 1100 • S2 - 1078

PEPPER (MAR) Trend Strategy

• Consolidate • Buy on dips

REFINED SOY OIL (MAR MAR) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 23730 • R1 - 23270

Resistance

• R2 - 640 • R1 - 630

Support

• S1 - 22350 • S2 - 21890

Support

• S1 - 600 • S2 - 590

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SOYABEAN (MAR)) Trend Strategy

• Consolidate • Sell on highs

TURMERIC (APR) (APR Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 2400 • R1 - 2375

Resistance

• R2 - 11100 • R1 - 10900

Support

• S1 - 2300 • S2 - 2275

Support

• S1 - 10500 • S2 - 10300

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Daily Agri -Commodity Tips http://www.capitalheight.com –11 March