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Daily Newsletter Newsletter-Agri Commodity 29/11/2010

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MARKET WRAP Turmeric hit contract high on demand & lower supply Pepper falls on tepid exports, local demand Cardamom falls on profit booking Jeera drops on weak demand & arrivals Soy oil extended fall on sluggish demand Guar ends lower on higher output view Chana falls on profit booking Rupee drops on firm US dollar

Lower stocks of turmeric till the fresh arrivals expected in the month of February will keep the prices firm in the near month contract. Prices will also take cues from the demand from the overseas and domestic buyers. There are reports of delayed sowing of Jeera in major growing belts in Gujarat and lower stocks with traders and stockiest amid crop loss in other countries. This is likely to support the spice from further falling in near term. Fundamentals supported the Pepper to gain and are likely to push the commodity further upside. Oilseeds and Soy oil fall tracking global markets. In the short term, Soy oil prices are expected to trade lower on weak overseas market. Expected fall in production is likely to keep sentiments up for Mentha in the short term. Traders are also holding back stocks in hope of a rise in price in the coming weeks. In the short term, prices of Chana may remain weak due to rising arrivals of Kharif pulses.

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TECHNICAL VIEW CARDAMOM (DEC) Trend Strategy

• Consolidate • Sell on highs

CHANA (DEC DEC) Trend Strategy

• Bullish • Buy on dips

Resistance

• R2 - 1164 • R1 - 1147

Resistance

• R2 - 2570 • R1 - 2550

Support

• S1 - 1090 • S2 - 1055

Support

• S1 - 2499 • S2 - 2477

GUARGUM (DEC) Trend Strategy

• Consolidate • Sell on highs

GUARSEED (DEC DEC) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 6300 • R1 - 6180

Resistance

• R2 - 2540 • R1 - 2510

Support

• S1 - 5950 • S2 - 5880

Support

• S1 - 2430 • S2 - 2400

JEERA (DEC) Trend Strategy

• Bearish • Sell on highs

MENTHA OIL (DEC DEC) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 14620 •R1 - 14425

Resistance

• R2 - 1255 • R1 - 1230

Support

•S1 - 14045 •S2 - 13920

Support

• S1 - 1175 •S2 - 1160

MUSTARD SEED (DEC) Trend Strategy Resistance Support

• Consolidate • Sell on highs •R2 - 574 •R1 - 570 •S1 - 562.50 •S2 - 560

PEPPER (DEC)) Trend Strategy

• Consolidate • Sell on highs

Resistance

•R2 - 22400 •R1 - 22125

Support

•S1 - 21625 •S2 - 21250

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SOYABEAN (DEC) Trend Strategy

• Bearish • Sell on highs

TURMERIC (DEC) Trend Strategy

• Bullish • Buy on dips

Resistance

•R2 - 2267 •R1 - 2250

Resistance

•R2 - 16230 •R1 - 16030

Support

•S1 - 2205 •S2 - 2180

Support

•S1 - 15430 •S2 - 15180

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