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Daily Newsletter Newsletter-Agri Commodity 14/01/2011

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MARKET WRAP Turmeric declines on weak exports Pepper trade down on profit booking Jeera continue downtrend on weak demand Oilseeds, soy oil seen rising over 2 pct Guar falls on profit booking Chana eases on profit taking Soybean up on U.S market

Turmeric prices will depend on demand from the domestic and overseas buyers and arrivals in the domestic market. Trend of Jeera will depend on price parity of various origins in international market & stocks of Jeera with local stockists. Good crop expectation of RM seed due to higher acreage had a bearish impact on the market. Spot markets witnessed a subdued trading due to severe winter across north India. Indian traders are likely to buy soy oil futures anticipating lower import of soy oil from Argentina due to production shortfall on bad weather condition. Depleting stock level of Mentha and robust demand from local traders as well as exporters will give support to the market. At higher price levels profit booking can be seen on roll over of contracts of Guar as we are approaching January expiry. The rally in the consecutive four days shall prompt profit booking. The imports of Chana have declined as the quality of produce in Australia is damaged and unfit for consumption. The upside is limited as the demand across the spot markets is lower. www.capitalheight.com capitalheight.wordpress.com


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TECHNICAL VIEW CARDAMOM (FEB) Trend Strategy Resistance

• Consolidate • Sell on highs • R2 - 1635 • R1 - 1600 • S1 - 1545 • S2 - 1515

Support

GUARGUM (JAN) Trend Strategy

• Consolidate • Sell on highs

CHANA (JAN) Trend Strategy

•Consolidate Consolidate • Buy on dips

Resistance

• R2 - 2600 • R1 - 2580

Support

• S1 - 2545 • S2 - 2520

GUARSEED (JAN JAN) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 6900 • R1 - 6800

Resistance

• R2 - 2575 • R1 - 2542

Support

• S1 - 6540 • S2 - 6450

Support

• S1 - 2480 • S2 - 2440

JEERA (JAN) Trend Strategy

• Consolidate • Sell on highs

MENTHA OIL (JAN JAN) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 14450 • R1 - 14300

Resistance

• R2 - 1210 • R1 - 1195

Support

• S1 - 13900 • S2 - 13750

Support

• S1 - 1160 • S2 - 1135

MUSTARD SEED (JAN) Trend Strategy

• Consolidate • Sell on highs

PEPPER (JAN)) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 557 • R1 - 552

Resistance

• R2 - 23175 • R1 - 22800

Support

• S1 - 544 • S2 - 538

Support

• S1 - 22100 • S2 - 21800

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SOYABEAN (JAN)) Trend Strategy

• Consolidate • Sell on highs

TURMERIC (APR) (APR Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 2400 • R1 - 2370

Resistance

• R2 - 10260 • R1 - 10160

Support

• S1 - 2340 • S2 - 2315

Support

• S1 - 9900 • S2 - 9700

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