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Daily Newsletter Newsletter-Agri Agri Commodity 09/12/2010

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MARKET WRAP Turmeric ended down due to selling pressure Pepper tumbles on profit booking Jeera gains on short covering Soy oil declines tracking global markets India rupee rises on strong euro Guar zooms on weak arrivals Chana adds losses Cardamom tumbles on profit booking

Short term trend of Turmeric would remain volatile as traders wait for corrections for buying opportunities Lower stocks of Jeera with the domestic stockiest and reports of effect on the production and yield of Jeera will support prices in the coming weeks. Unseasonal rains in the previous month will have adverse impact on the output. Fundamentals are very strong and are likely to push Pepper upside also traders are reportedly waiting for some more dips in the short term but with demand expected to rise at lower levels, could support the rates to some extent. Corrections were noted for Mentha Oil rates as higher arrivals and fall in kept trend weak. In short term, some more dips can be expected as traders wait for corrections for fresh buy. Despite firm Soy meal export demand, prices dipped because of huge soybean stocks and high inventories. Prospects of higher production from reportedly satisfactory sowing activities in growing states kept pressure on the market sentiments for Chana.

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TECHNICAL VIEW CARDAMOM (DEC) Trend Strategy

• Consolidate • Sell on highs

CHANA (DEC DEC) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 1330 • R1 - 1250

Resistance

• R2 - 2550 • R1 - 2520

Support

• S1 - 1200 • S2 - 1175

Support

• S1 - 2475 • S2 - 2445

GUARGUM (DEC) Trend Strategy

• Consolidate • Buy on dips

GUARSEED (DEC DEC) Trend Strategy

•Consolidate Consolidate • Buy on dips

Resistance

• R2 - 6540 • R1 - 6400

Resistance

• R2 - 2580 • R1 - 2540

Support

• S1 - 6270 • S2 - 6150

Support

• S1 - 2430 • S2 - 2390

JEERA (DEC) Trend Strategy

• Consolidate • Sell on highs

MENTHA OIL (DEC DEC) Trend Strategy

• Bearish • Sell on highs

Resistance

•R2 - 14650 •R1 - 14590

Resistance

• R2 - 1245 • R1 - 1210

Support

•S1 - 14200 •S2 - 14050

Support

• S1 - 1160 •S2 - 1130

MUSTARD SEED (DEC) Trend Strategy

• Consolidate • Sell on highs

PEPPER (DEC)) Trend Strategy

• Consolidate • Sell on highs

Resistance

•R2 - 580 •R1 - 576

Resistance

•R2 - 23000 •R1 - 22700

Support

•S1 - 566 •S2 - 562

Support

•S1 - 22250 •S2 - 21700

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SOYABEAN (DEC) Trend Strategy

• Consolidate • Buy on dips

TURMERIC (DEC) Trend Strategy

• Consolidate • Sell on highs

Resistance

•R2 - 2380 •R1 - 2260

Resistance

•R2 - 15450 •R1 - 15250

Support

•S1 - 2215 •S2 - 2190

Support

•S1 - 14700 •S2 - 14500

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