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Daily Newsletter Newsletter-Agri Agri Commodity 16/02/2011

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MARKET WRAP Turmeric falls on arrivals Jeera falls on weak exports Pepper down 1% Soy bean, soy oil extend losses on weak demand Guar falls on profit taking Chana hits one month low Mentha oil rises on active buying

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. Lower availability of Chana in the market until fresh arrivals commence in good quantity from M.P are likely to support prices. The buyers of Guar have remained inactive across the spot markets and the arrivals have been declining gradually. The millers and stockists refrained from buying as the prices were quoted higher. The demand for oil might shrink at current higher levels. Bullish edible oil import data may not support the market to recover. www.capitalheight.com capitalheight.wordpress.com


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TECHNICAL VIEW CARDAMOM (MAR) Trend Strategy Resistance

• Bearish • Sell on highs • R2 - 1346 • R1 - 1320 • S1 - 1270 • S2 - 1245

Support

GUARGUM (MAR) Trend

• Consolidate • Sell on highs

Strategy

CHANA (MAR MAR) Trend Strategy

• Bearish • Sell on highs

Resistance

• R2 - 2740 • R1 - 2685

Support

• S1 - 2580 • S2 - 2530

GUARSEED (MAR MAR) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 8350 • R1 - 8190

Resistance

• R2 - 2920 • R1 - 2860

Support

• S1 - 7870 • S2 - 7710

Support

• S1 - 2750 • S2 - 2700

JEERA (MAR) Trend Strategy

• Consolidate • Buy on dips

MENTHA OIL (FEB FEB) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 16545 • R1 - 16230

Resistance

• R2 - 1185 • R1 - 1165

Support

• S1 - 15590 • S2 - 15275

Support

• S1 - 1118 • S2 - 1095

PEPPER (MAR) Trend Strategy

• Consolidate • Buy on dips

REFINED SOY OIL (MAR MAR) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 25215 • R1 - 24730

Resistance

• R2 - 668 • R1 - 662

Support

• S1 - 23760 • S2 - 23275

Support

• S1 - 650 • S2 - 644

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SOYABEAN (MAR)) Trend Strategy

• Consolidate • Buy on dips

TURMERIC (APR) (APR Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 2590 • R1 - 2520

Resistance

• R2 - 10026 • R1 - 9830

Support

• S1 - 2420 • S2 - 2370

Support

• S1 - 9450 • S2 - 9260

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