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Daily Newsletter Newsletter-Agri Agri Commodity 18/07/2011

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MARKET WRAP Chana falls on profit booking Jeera up on strong demand Pepper falls on profit booking Oilseeds, soy oil up on global cues Guar gains on domestic demand Turmeric down on low demand Mentha recovers on short covering & good demand

Agri commodities came down on conflicting signals. Pepper futures in the intraday are expected to trade sideways to up due to lower arrivals in the domestic markets. Good export & domestic demand, lower stocks and a fall in production of Pepper are likely to support the market sentiments in the near term. There is some scope for upside movement on the back of a strong demand of Mentha oil from pharmaceutical companies, besides export demand. Chana futures at multi weeks’ high may now take a pause. Profit booking may take a toll on the nuts. The upside in guar complex may remain supported mainly by two reasons i.e. apprehension of fall in acreage farmers diverting towards cotton & greater usage inquiries from oil drilling sector. Turmeric futures may remain sideways following reports of slowdown in sowing due to poor rains in producing regions. Broad fundamentals like the lower global oil seed production forecast and rape seed crop concerns in Ukraine might drive the prices upside. CPO futures are likely to dip on Malaysian prices. www.capitalheight.com capitalheight.wordpress.com


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TECHNICAL VIEW CARDAMOM (AUG) Trend Strategy Resistance

• Consolidate • Sell on high • R2 - 875 • R1 - 860 • S1 - 820 • S2 - 805

Support

GUARGUM (AUG) Trend

• Bullish • Buy on dips

Strategy

CHANA (AUG AUG) Trend Strategy

• Bullish • Buy on dips

Resistance

• R2 - 3060 • R1 - 3030

Support

• S1 - 2850 • S2 - 2825

GUARSEED (AUG AUG) Trend Strategy

• Bullish • Buy on dips

Resistance

• R2 - 13200 • R1 - 13000

Resistance

• R2 - 4200 • R1 - 4150

Support

• S1 - 12600 • S2 - 12400

Support

• S1 - 4050 • S2 - 4000

JEERA (AUG) Trend Strategy

• Consolidate • Buy on dips

MENTHA OIL (JULY JULY) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 16000 • R1 - 15800

Resistance

• R2 - 1160 • R1 - 1140

Support

• S1 - 15200 • S2 - 15000

Support

• S1 - 1100 • S2 - 1080

PEPPER (AUG) Trend Strategy

• Consolidate • Sell on high

MUSTARD SEED (AUG AUG) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 28900 • R1 - 28600

Resistance

• R2 - 3010 • R1 - 2990

Support

• S1 - 27800 • S2 - 27300

Support

• S1 - 2935 • S2 - 2900

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SOYABEAN (AUG)) Trend Strategy

• Consolidate • Buy on dips

TURMERIC (AUG AUG) Trend Strategy

• Consolidate • Sell on high

Resistance

• R2 - 2390 • R1 - 2370

Resistance

• R2 - 7530 • R1 - 7430

Support

• S1 - 2320 • S2 - 2300

Support

• S1 - 7180 • S2 - 7000

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