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Daily Newsletter Newsletter-Agri Agri Commodity 11/07/2011

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MARKET WRAP Chana remains unchanged Jeera falls on weak demand Pepper falls on profit booking Oilseeds, soy oil add gains on demand Guar up on short covering Turmeric edges higher on short covering Mentha oil falls on profit booking

Jeera futures are expected to continue the bearish trend on poor domestic demand. Lack of active buying at spot market is likely to pull down the prices. Indian prices are ruling in line with other major Pepper producing countries. Due to heavy volatility in prices traders are not interested in holding the positions therefore, they are exiting their positions towards the end of the session. According to derivative analysis of Chana, the increase in price, volume and decline in open interest indicates volatile trend in market with biasness towards selling side which might lead to correction. Traders are likely to take advantage of rally in prices of Guar over last week and might continue selling at higher price levels supporting the decline in prices. Concerns about higher stock levels and the expectations of increase in Kharif oilseed production by 9% are affecting the Mustard Seed market sentiments. Better production prospects and lower export demand may limit a steep price rise in Soybean. Weather disturbance in growing areas of Mentha can have some bullish impact on the market sentiments in the short term. www.capitalheight.com capitalheight.wordpress.com


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TECHNICAL VIEW CARDAMOM (JULY) Trend Strategy Resistance

• Consolidate • Sell on high • R2 - 845 • R1 - 830 • S1 - 800 • S2 - 785

Support

GUARGUM (JULY) Trend

• Consolidate • Buy on dips

Strategy

CHANA (JULY JULY) Trend Strategy

• Bullish • Buy on dips

Resistance

• R2 - 2860 • R1 - 2830

Support

• S1 - 2760 • S2 - 2720

GUARSEED (JULY JULY) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 12050 • R1 - 11900

Resistance

• R2 - 3860 • R1 - 3830

Support

• S1 - 11600 • S2 - 11450

Support

• S1 - 3740 • S2 - 3715

JEERA (JULY) Trend Strategy

• Consolidate • Sell on high

MENTHA OIL (JULY JULY) Trend Strategy

• Bullish • Buy on dips

Resistance

• R2 - 14800 • R1 - 14600

Resistance

• R2 - 1120 • R1 - 1100

Support

• S1 - 14080 • S2 - 13800

Support

• S1 - 1060 • S2 - 1040

PEPPER (JULY) Trend Strategy

• Consolidate • Sell on high

REFINED SOY OIL (JU JULY) Trend Strategy

• Consolidate • Sell on high

Resistance

• R2 - 27800 • R1 - 27400

Resistance

• R2 - 650 • R1 - 645

Support

• S1 - 26300 • S2 - 25750

Support

• S1 - 635 • S2 - 630

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SOYABEAN (JULY)) Trend Strategy

• Consolidate • Buy on dips

TURMERIC (JULY JULY) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 2330 • R1 - 2310

Resistance

• R2 - 7850 • R1 - 7750

Support

• S1 - 2270 • S2 - 2250

Support

• S1 - 7530 • S2 - 7450

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