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Daily Newsletter Newsletter-Agri Agri Commodity 22/07/2011

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MARKET WRAP Chana drops on profit booking Jeera trades higher on export demand Pepper gains on falling arrivals Oilseeds, soy oil rise on demand & positive global cues Guar extend gains, hits contract high Turmeric edges higher short covering Mentha oil falls on profit booking

Price trend of Turmeric is likely to depend on distribution of rainfall in the growing areas and demand for the spice from domestic and overseas buyers. As the pepper prices in the international market of all regions are at same levels there is likelihood that overseas buyers might place fresh orders in the domestic market in the short term. Jeera prices in the intraday are likely to trade firm due to fresh export enquiries from overseas buyers particularly China. Soy oil prices at Indian commodity bourses might recover from the previous fall on back of improving demand for edible oils for biodiesel purposes. Chana futures are likely to trade firm owing to improved demand from local buyers amidst reduced arrivals in the domestic. The Cardamom August futures are expected to continue to trade up on fresh buying. Export demand from gulf is expected to support the prices. Guar futures may trade firm owing to robust export demand. However, good rainfall in the major guar growing districts of Rajasthan in coming days might cap the gains in the short term. www.capitalheight.com capitalheight.wordpress.com


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TECHNICAL VIEW CARDAMOM (AUG) Trend Strategy Resistance

• Consolidate • Buy on dips • R2 - 890 • R1 - 880 • S1 - 845 • S2 - 830

Support

GUARGUM (AUG) Trend

• Bullish • Buy on dips

Strategy

CHANA (AUG AUG) Trend Strategy

• Bullish • Buy on dips

Resistance

• R2 - 3030 • R1 - 3000

Support

• S1 - 2940 • S2 - 2900

GUARSEED (AUG AUG) Trend Strategy

• Bullish • Buy on dips

Resistance

• R2 - 14200 • R1 - 13950

Resistance

• R2 - 4450 • R1 - 4400

Support

• S1 - 13500 • S2 - 13250

Support

• S1 - 4250 • S2 - 4180

JEERA (AUG) Trend Strategy

• Bullish • Buy on dips

MENTHA OIL (JULY JULY) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 17000 • R1 - 16600

Resistance

• R2 - 1170 • R1 - 1150

Support

• S1 - 15950 • S2 - 15700

Support

• S1 - 1110 • S2 - 1090

PEPPER (AUG) Trend Strategy

• Consolidate • Buy on dips

MUSTARD SEED (AUG AUG) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 29200 • R1 - 28600

Resistance

• R2 - 3030 • R1 - 3005

Support

• S1 - 27900 • S2 - 27200

Support

• S1 - 2950 • S2 - 2910

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SOYABEAN (AUG)) Trend Strategy

• Consolidate • Buy on dips

TURMERIC (AUG AUG) Trend Strategy

• Bearish • Sell on high

Resistance

• R2 - 2465 • R1 - 2435

Resistance

• R2 - 7400 • R1 - 7250

Support

• S1 - 2350 • S2 - 2320

Support

• S1 - 7000 • S2 - 6850

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