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Daily Newsletter Newsletter-Agri Agri Commodity 04/02/2011

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MARKET WRAP Jeera continues uptrend Pepper gains on tight supply Turmeric recovers on export demand Chana falls on subdued demand Oilseeds, soy oil seen down on profit-taking Guar moved further higher Mentha oil closed at 3% circuit on sluggish demand

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. Mentha oil futures are expected to continue the bearish trend as active selling may pull down the prices. Sluggish demand due to good sowing progress might further add to the down side. Indian traders are taking advantage of lower crop size of Argentina by offering soy meal at lower price compared to Brazil and Argentina. The marriage season demand for Chana from the retailers has almost come to an end which might exert pressure on the prices. The decreasing arrivals amidst strong demand for the guar gum might keep prices positive. Participants are creating buy position on speculation that soy oil import in the medium term will be lower due to lower crop expectation in Latin America. The expectations of increase in crude oil inventories in a short term are resulting in good global demand for the guar gum in the short term. www.capitalheight.com capitalheight.wordpress.com


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TECHNICAL VIEW CARDAMOM (FEB) Trend Strategy Resistance

• Bearish • Sell on highs • R2 - 1390 • R1 - 1360 • S1 - 1305 • S2 - 1278

Support

GUARGUM (FEB) Trend

• Bullish • Buy on dips

Strategy

CHANA (FEB)) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 2660 • R1 - 2640

Support

• S1 - 2600 • S2 - 2584

GUARSEED (FEB FEB) Trend Strategy

• Bullish • Buy on dips

Resistance

• R2 - 8470 • R1 - 8300

Resistance

• R2 - 3040 • R1 - 2980

Support

• S1 - 8070 S2 - 7950

Support

• S1 - 2890 • S2 - 2860

JEERA (FEB) Trend Strategy

• Consolidate • Sell on highs

MENTHA OIL (FEB FEB) Trend Strategy

• Bearish • Sell on highs

Resistance

• R2 - 15030 • R1 - 14880

Resistance

• R2 - 1125 • R1 - 1105

Support

• S1 - 14630 • S2 - 14500

Support

• S1 - 1057 • S2 - 1035

PEPPER (FEB) Trend Strategy

• Consolidate • Sell on highs

REFINED SOY OIL (FEB) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 23200 • R1 - 22980

Resistance

• R2 - 674 • R1 - 670

Support

• S1 - 22550 • S2 - 22300

Support

• S1 - 662 • S2 - 657

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SOYABEAN (FEB)) Trend Strategy

• Consolidate • Buy on dips

TURMERIC (APR) (APR Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 2560 • R1 - 2540

Resistance

• R2 - 9980 • R1 - 9910

Support

• S1 - 2515 • S2 - 2495

Support

• S1 - 9800 • S2 - 9750

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