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Daily Newsletter Newsletter-Agri Agri Commodity 09/02/2011

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MARKET WRAP Jeera plunges on fresh arrivals Turmeric drops on arrival pressure Cardamom closed down on profit booking Guar falls on production estimates Chana extends losses Soy oil drops on global cues Soy bean steady

In the medium term turmeric prices may trade bearish due to increase in the arrivals owing to better production. Any reports of bad weather in the Jeera growing regions might provide support to the prices in the short term. Pepper prices will depend on demand from the overseas & domestic market and fresh arrivals in the market. Mentha oil is 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. Lack of proper information regarding Guatemala cardamom crop is weighing on market sentiments. Government is concerned about the food inflation levels which might further reduce the stock limits of Chana. The expectations of increase in crude oil inventories in short term are resulting in good global demand for the guar gum in the short term. Thus the buyers might still buy at the current higher price levels as the parity is still higher as the guar gum prices are quoted higher. Traders and investors are likely to sell soy oil futures on fear of likely government intervention to control higher food inflation. www.capitalheight.com capitalheight.wordpress.com


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TECHNICAL VIEW CARDAMOM (FEB) Trend Strategy Resistance

• Bearish • Sell on highs • R2 - 1330 • R1 - 1300 • S1 - 1230 • S2 - 1200

Support

GUARGUM (FEB) Trend

• Consolidate • Sell on highs

Strategy

CHANA (FEB)) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 2681 • R1 - 2665

Support

• S1 - 2610 • S2 - 2585

GUARSEED (FEB FEB) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 8250 • R1 - 8100

Resistance

• R2 - 2870 • R1 - 2815

Support

• S1 - 7800 • S2 - 7650

Support

• S1 - 2710 • S2 - 2680

JEERA (FEB) Trend Strategy

• Consolidate • Buy on dips

MENTHA OIL (FEB FEB) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 15550 • R1 - 15250

Resistance

• R2 - 1115 • R1 - 1095

Support

• S1 - 14800 • S2 - 14600

Support

• S1 - 1055 • S2 - 1035

PEPPER (FEB) Trend Strategy

• Consolidate • Buy on dips

REFINED SOY OIL (FEB) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 24000 • R1 - 23550

Resistance

• R2 - 658 • R1 - 652

Support

• S1 - 22700 • S2 - 22400

Support

• S1 - 640 • S2 - 634

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SOYABEAN (FEB)) Trend Strategy

• Consolidate • Buy on dips

TURMERIC (APR) (APR Trend Strategy

• Bearish • Sell on highs

Resistance

• R2 - 2560 • R1 - 2530

Resistance

• R2 - 9700 • R1 - 9500

Support

• S1 - 2470 • S2 - 2440

Support

• S1 - 9200 • S2 - 9030

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