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Daily Newsletter Newsletter-Agri Agri Commodity 25/01/2011

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MARKET WRAP Turmeric drops on ample supply Pepper rises on firm demand Jeera drops on profit taking Chana down 1% Guar snaps 4-day gaining streak Mentha oil surges on fresh buying

Bulk buyers are not interested in buying as of now and they are expecting further decline in prices. Despite, lower stocks of Jeera with other producers, buyers in the international market are closely monitoring prices of the Indian market as fresh arrivals will commence from the end of January. Indian Pepper prices are now competitive in international market and Vietnam crop is expected to hit the market by mid of March till then India has good export opportunity. Refined soy oil prices are expected to trade higher on firm overseas market as global shortage of edible oil couple with robust demand.. Decline in supply of the produce at major spot markets and active buying interest from gum manufacturers is likely to support the Guar prices. There are also reports of fresh demand from the domestic stockists since past few days. Weather would be an important factor to be watched for as the final estimates on the Chana crop would mainly depend on the weather conditions during the crop development period. Cardamom is attracting late buyers & early shorts; market is vulnerable to a sharp correction but likely that correction will be brought creating a buy point for uptrend. www.capitalheight.com capitalheight.wordpress.com


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TECHNICAL VIEW CARDAMOM (FEB) Trend Strategy Resistance

• Consolidate • Sell on highs • R2 - 1555 • R1 - 1540 • S1 - 1480 • S2 - 1450

Support

GUARGUM (FEB) Trend

• Bullish • Buy on dips

Strategy

CHANA (FEB)) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 2780 • R1 - 2740

Support

• S1 - 2710 • S2 - 2690

GUARSEED (FEB FEB) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 7600 • R1 - 7500

Resistance

• R2 - 2850 • R1 - 2830

Support

• S1 - 7300 • S2 - 7200

Support

• S1 - 2775 • S2 - 2750

JEERA (FEB) Trend Strategy

• Consolidate • Buy on dips

MENTHA OIL (JAN JAN) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 15800 • R1 - 15650

Resistance

• R2 - 1195 • R1 - 1180

Support

• S1 - 15400 • S2 - 15300

Support

• S1 - 1160 • S2 - 1145

PEPPER (FEB) Trend Strategy

• Consolidate • Buy on dips

REFINED SOY OIL (FEB) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 23500 • R1 - 23200

Resistance

• R2 - 673 • R1 - 669

Support

• S1 - 22700 • S2 - 22500

Support

• S1 - 662 • S2 - 657

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SOYABEAN (FEB)) Trend Strategy

• Consolidate • Buy on dips

TURMERIC (APR) (APR Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 2560 • R1 - 2540

Resistance

• R2 - 10100 • R1 - 10000

Support

• S1 - 2500 • S2 - 2480

Support

• S1 - 9860 • S2 - 9760

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