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Daily Newsletter Newsletter-Agri Agri Commodity 14/02/2011

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MARKET WRAP Jeera continues uptrend on weak arrivals Turmeric surges on short covering Pepper gains on better off takes Soy bean declines on selling pressure Refined soy oil drops on global cues Guar drops on short selling Chana trades down on subdued demand

Demand for Turmeric from the overseas and domestic is weak as the buyers are anticipating further fall in the prices in the coming days. 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. Lower availability of Chana in the market until fresh arrivals commence in good quantity from M.P are likely to support prices. We expect Guar prices to recover on export demand and trade in the range of Rs 2720 and Rs 3050. Refined soy oil prices are expected to trade slightly higher on global shortage of edible oils and depreciation of Indian rupee against US dollar also provide support to the bulls. www.capitalheight.com capitalheight.wordpress.com


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TECHNICAL VIEW CARDAMOM (FEB) Trend Strategy Resistance

• Consolidate • Sell on highs • R2 - 1330 • R1 - 1305 • S1 - 1255 • S2 - 1230

Support

GUARGUM (FEB) Trend

• Consolidate • Sell on highs

Strategy

CHANA (FEB)) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 2690 • R1 - 2665

Support

• S1 - 2615 • S2 - 2590

GUARSEED (FEB FEB) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 8370 • R1 - 8210

Resistance

• R2 - 2930 • R1 - 2880

Support

• S1 - 7900 • S2 - 7730

Support

• S1 - 2780 • S2 - 2730

JEERA (FEB) Trend Strategy

• Bullish • Buy on dips

MENTHA OIL (FEB FEB) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 16670 • R1 - 16350

Resistance

• R2 - 1110 • R1 - 1086

Support

• S1 - 15710 • S2 - 15390

Support

• S1 - 1045 • S2 - 1025

PEPPER (FEB) Trend Strategy

• Bullish • Buy on dips

REFINED SOY OIL (FEB) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 25980 • R1 - 25680

Resistance

• R2 - 657 • R1 - 651

Support

• S1 - 25080 • S2 - 24780

Support

• S1 - 639 • S2 - 633

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SOYABEAN (FEB)) Trend Strategy

• Consolidate • Buy on dips

TURMERIC (APR) (APR Trend Strategy

• Bearish • Sell on highs

Resistance

• R2 - 2510 • R1 - 2485

Resistance

• R2 - 9700 • R1 - 9520

Support

• S1 - 2435 • S2 - 2410

Support

• S1 - 9230 • S2 - 8980

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