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Daily Newsletter Newsletter-Agri Agri Commodity 05/07/2011

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MARKET WRAP Chana remains range bound Jeera down on profit sales Pepper settles higher on increased demand Oilseeds, soy oil witness positive sentiments Guar hits contract high for the 6th running day Turmeric falls further on short selling & weak demand Mentha up on demand

Turmeric futures are expected to trade on positive because Traders in Nizamabad, Erode market are getting good orders from upcountry buyers which might support the prices. Jeera futures are expected to continue the bearish trend on poor domestic demand. Lack of active buying at spot market is likely to pull down the prices. Indian prices are ruling in line with other major pepper producing countries. Due to heavy volatility in prices traders are not interested in holding the positions therefore, they are exiting their positions towards the end of the session. The gains in both guar seed and gum futures have been substantial during last week. Therefore traders might take advantage of these gains and might go for profit booking. Broad based selling in oilseeds complex in both domestic & international markets is keeping a check on the upside movement. The current predictions with respect to monsoon and sowing acreage point towards downward projections of Kharif output which may provide support to the prices. www.capitalheight.com capitalheight.wordpress.com


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TECHNICAL VIEW CARDAMOM (JULY) Trend Strategy Resistance

• Consolidate • Sell on high • R2 - 850 • R1 - 835 • S1 - 805 • S2 - 790

Support

GUARGUM (JULY) Trend

• Bullish • Buy on dips

Strategy

CHANA (JULY JULY) Trend Strategy

• Bullish • Buy on dips

Resistance

• R2 - 3000 • R1 - 2875

Support

• S1 - 2820 • S2 - 2780

GUARSEED (JULY JULY) Trend Strategy

• Bullish • Buy on dips

Resistance

• R2 - 12200 • R1 - 12050

Resistance

• R2 - 3900 • R1 - 3850

Support

• S1 - 11750 • S2 - 11600

Support

• S1 - 3750 • S2 - 3700

JEERA (JULY) Trend Strategy

• Consolidate • Buy on dips

MENTHA OIL (JULY JULY) Trend Strategy

• Bullish • Buy on dips

Resistance

• R2 - 15300 • R1 - 14900

Resistance

• R2 - 1015 • R1 - 1000

Support

• S1 - 14400 • S2 - 14000

Support

• S1 - 965 • S2 - 950

PEPPER (JULY) Trend Strategy

• Consolidate • Sell on high

REFINED SOY OIL (JU JULY) Trend Strategy

• Consolidate • Sell on high

Resistance

• R2 - 27800 • R1 - 27500

Resistance

• R2 - 650 • R1 - 645

Support

• S1 - 26800 • S2 - 26300

Support

• S1 - 632 • S2 - 626

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SOYABEAN (JULY)) Trend Strategy

• Consolidate • Buy on dips

TURMERIC (JULY JULY) Trend Strategy

• Consolidate • Sell on high

Resistance

• R2 - 2325 • R1 - 2300

Resistance

• R2 - 7850 • R1 - 7750

Support

• S1 - 2290 • S2 - 2265

Support

• S1 - 7500 • S2 - 7350

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