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Daily Newsletter-Agri Commodity 09/09/2011

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MARKET WRAP Jeera settles lower on higher arrivals Guar gum and seed extends uptrend Turmeric hits new contract low Pepper ends positive on short covering Mentha oil ends up, profit booking caps gains Potato ends down for 2nd day Cardamom up on short covering Chana ends up on fresh buying

Guar gum and seed is expected to trade sideways to positive due to limited stocks from fresh crops and rising demand due to ongoing festival will also support the prices. Mentha oil is likely to trade sideways to moderately positive due to fresh buying amid rising demand though profit booking at higher levels will limit the upside gains. Chana is expected to trade sideways to positive due to firm demand in the spot market. Fresh buying at lower levels and short covering will also support the prices to remain firm coupled with ongoing festival demand. Pepper is expected to trade sideways to positive due to fresh buying at lower levels by traders & good demand outlook in near term due to ongoing festival season & expected further rise in domestic and international export demand will support the prices. Jeera is likely to trade sideways to negative due to profit booking & higher arrivals in the market amid subdued demand.

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TECHNICAL VIEW CARDAMOM (SEP) Trend

• Consolidate • Sell on high

Strategy

CHANA (SEP) Trend

Strategy

• Bullish • Buy on dips

Resistance

• R2 - 720 • R1 - 705

Resistance

• R2 - 3400 • R1 - 3340

Support

• S1 - 685 • S2 - 670

Support

• S1 - 3280 • S2 - 3220

GUARGUM (SEP) Trend

• Consolidate •Buy on dips

Strategy

GUARSEED (SEP) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 14600 • R1 - 14200

Resistance

• R2 - 4600 • R1 - 4530

Support

• S1 - 13700 • S2 - 13450

Support

• S1 - 4420 • S2 - 4350

JEERA (SEP) Trend Strategy

• Consolidate • Sell on high

MENTHA OIL (SEP) Trend

Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 16200 • R1 - 15750

Resistance

• R2 - 1265 • R1 - 1250

Support

• S1 - 15300 • S2 - 15000

Support

• S1 - 1220 • S2 - 1195

PEPPER (SEP) Trend Strategy

• Consolidate • Buy on dips

MUSTARD SEED (SEP) Trend Strategy

• Consolidate • Sell on high

Resistance

• R2 - 34400 • R1 - 33600

Resistance

• R2 - 2990 • R1 - 2390

Support

• S1 - 32700 • S2 - 32100

Support

• S1 - 2870 • S2 - 2820

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SOYABEAN (SEP) Trend Strategy

• Consolidate • Sell on high

TURMERIC (SEP) Trend Strategy

• Bearish • Sell on high

Resistance

• R2 - 2460 • R1 - 2420

Resistance

• R2 - 5400 • R1 - 5250

Support

• S1 - 2370 • S2 - 2340

Support

• S1 - 5050 • S2 - 4900

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