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Daily Newsletter Newsletter-Agri Agri Commodity 01/02/2011

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MARKET WRAP Jeera falls on weak exports Pepper tumbles on fresh arrivals Guar up on robust demand Chana down on profit taking Oilseeds, soy oil rise on Argentina strike Cardamom trades down on profit booking

Turmeric market is attracting late buyers & early shorts; market is vulnerable to a sharp correction but likely that that correction will be bought creating a buy point for uptrend. Jeera prices will depend on the demand from the overseas and domestic buyers and fresh arrivals in the domestic mandis. Pepper exporters are not activity buying in market as they are waiting for Vietnam crop to hit the market which may cool down the prices here also. Steady spot market activity in Mentha oil in absences of fresh market cues might weigh on sentiments. As per derivative analysis, prices and volumes are falling while open interest is rising. It is a good indication that a sharp rally against downtrend will develop creating a sell point for downtrend. Cardamom prices reversed the trend on active selling and remained down and weak demand at spot market may further pressurize the prices. Chana prices are down due to profit booking by the market participants on worries over subdued demand though recovering weather conditions during the last week are likely to help the crop to recover from the damage of the cold wave conditions. www.capitalheight.com capitalheight.wordpress.com


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TECHNICAL VIEW CARDAMOM (FEB) Trend Strategy Resistance

• Bearish • Sell on highs • R2 - 1420 • R1 - 1390 • S1 - 1340 • S2 - 1305

Support

GUARGUM (FEB) Trend

• Consolidate • Buy on dips

Strategy

CHANA (FEB)) Trend Strategy

• Bearish • Sell on highs

Resistance

• R2 - 2645 • R1 - 2630

Support

• S1 - 2590 • S2 - 2560

GUARSEED (FEB FEB) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 8000 • R1 - 7900

Resistance

• R2 - 2900 • R1 - 2870

Support

• S1 - 7625 S2 - 7500

Support

• S1 - 2800 • S2 - 2740

JEERA (FEB) Trend Strategy

• Bearish • Sell on highs

MENTHA OIL (FEB FEB) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 15540 • R1 - 15120

Resistance

• R2 - 1180 • R1 - 1160

Support

• S1 - 14550 • S2 - 14370

Support

• S1 - 1120 • S2 - 1100

PEPPER (FEB) Trend Strategy

• Consolidate • Sell on highs

REFINED SOY OIL (FEB) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 22730 • R1 - 22500

Resistance

• R2 - 670 • R1 - 664

Support

• S1 - 22050 • S2 - 21700

Support

• S1 - 652 • S2 - 646

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SOYABEAN (FEB)) Trend Strategy

• Consolidate • Sell on highs

TURMERIC (APR) (APR Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 2520 • R1 - 2485

Resistance

• R2 - 10070 • R1 - 9980

Support

• S1 - 2450 • S2 - 2420

Support

• S1 - 9750 • S2 - 9700

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