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Daily Newsletter Newsletter-Agri Agri Commodity 11/02/2011

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MARKET WRAP Jeera continues uptrend on active buying Turmeric falls on subdued demand Pepper zoom on export demand Soy oil weakens on short selling Soy bean falls on global cues Mentha oil moves further higher Guar gains on extended buying

Turmeric prices may trade bearish due to increase in the arrivals owing to better production. Any reports of bad weather in the Jeera growing region might provide support to the prices in the short term. Reports of crop damage due to floods and heavy rains in Sri Lanka and Indonesia may support Pepper prices. However, lower quotes offered by Vietnam might weigh on prices. 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. The crop damage reports of Chana might come out during the week. The arrivals have gained momentum across the spot markets. The arrivals of Guar have been declining gradually across the spot markets, expectations of increase in crude oil inventories in short term are resulting in good global demand for the guar gum. In February month crop report, USDA projected tighter world soybean supply and higher export of oil. www.capitalheight.com capitalheight.wordpress.com


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TECHNICAL VIEW CARDAMOM (FEB) Trend Strategy Resistance

• Consolidate • Sell on highs • R2 - 1315 • R1 - 1290 • S1 - 1240 • S2 - 1215

Support

GUARGUM (FEB) Trend

• Consolidate • Buy on dips

Strategy

CHANA (FEB)) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 2740 • R1 - 2690

Support

• S1 - 2590 • S2 - 2540

GUARSEED (FEB FEB) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 8550 • R1 - 8385

Resistance

• R2 - 2955 • R1 - 2900

Support

• S1 - 8065 • S2 - 7900

Support

• S1 - 2785 • S2 - 2730

JEERA (FEB) Trend Strategy

• Consolidate • Buy on dips

MENTHA OIL (FEB FEB) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 16120 • R1 - 15810

Resistance

• R2 - 1120 • R1 - 1097

Support

• S1 - 15190 • S2 - 14880

Support

• S1 - 1055 • S2 - 1032

PEPPER (FEB) Trend Strategy

• Consolidate • Buy on dips

REFINED SOY OIL (FEB) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 24390 • R1 - 23920

Resistance

• R2 - 662 • R1 - 656

Support

• S1 - 22980 • S2 - 22510

Support

• S1 - 644 • S2 - 638

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SOYABEAN (FEB)) Trend Strategy

• Consolidate • Buy on dips

TURMERIC (APR) (APR Trend Strategy

• Bearish • Sell on highs

Resistance

• R2 - 2565 • R1 - 2540

Resistance

• R2 - 9820 • R1 - 9630

Support

• S1 - 2490 • S2 - 2464

Support

• S1 - 9230 • S2 - 8960

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