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Daily Newsletter Newsletter-Agri Commodity 05/01/2011

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MARKET WRAP Turmeric slips on output expectation Oilseeds, soy oil drop on weak global markets Soya bean down on global cues Guar up on pickup in demand Chana futures steady Mentha oil tumbles on short selling Mustard Seed weakens on strong sowing

Buyers from north India are waiting for fresh crop arrival. Therefore, they are not showing much interest in buying Turmeric. Market news of fresh export inquires for Indian pepper in absences of any quotes from other producing countries because of New Year holiday may further add to the prices. Delay in fresh arrivals may also support the prices. Any vagaries in weather in Jeera growing areas particularly Gujarat and Rajasthan will however provide support to the prices in the short term. The Guar gum manufacturers are actively buying across the spot markets. The anticipated revival in the export demand from the US and China is supporting the prices to trade upside. Domestic traders are likely to buy futures on expectation of revival in demand for mustard oil. However, weakness in soy market might limit the gains. Soy oil futures are down on profit booking as forecast of rains in Argentina is easing the potential crop loss concern. Declining trend in arrivals and no other source of Cardamom except India is pushing prices on higher side. www.capitalheight.com capitalheight.wordpress.com


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TECHNICAL VIEW CARDAMOM (JAN) Trend Strategy

• Consolidate • Sell on highs

CHANA (JAN) Trend Strategy

•Consolidate Consolidate • Sell on highs

Resistance

• R2 - 1620 • R1 - 1585

Resistance

• R2 - 2590 • R1 - 2570

Support

• S1 - 1545 • S2 - 1510

Support

• S1 - 2540 • S2 - 2525

GUARGUM (JAN) Trend Strategy

• Consolidate • Buy on dips

GUARSEED (JAN JAN) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 6900 • R1 - 6745

Resistance

• R2 - 2570 • R1 - 2540

Support

• S1 - 6530 • S2 - 6470

Support

• S1 - 2470 • S2 - 2430

JEERA (JAN) Trend Strategy

• Consolidate • Sell on highs

MENTHA OIL (JAN JAN) Trend Strategy

• Consolidate • Sell on highs

Resistance

•R2 - 15050 •R1 - 14800

Resistance

• R2 - 1220 • R1 - 1200

Support

•S1 - 14250 •S2 - 14050

Support

• S1 - 1160 •S2 - 1135

MUSTARD SEED (JAN) Trend Strategy

• Consolidate • Sell on dips

PEPPER (JAN)) Trend Strategy

• Consolidate • Sell on highs

Resistance

•R2 - 577 •R1 - 573

Resistance

•R2 - 23500 •R1 - 23180

Support

•S1 - 566 •S2 - 562

Support

•S1 - 22350 •S2 - 22100

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SOYABEAN (JAN)) Trend Strategy

• Consolidate • Sell on highs

TURMERIC (APR) (APR Trend Strategy

• Bearish • Sell on highs

Resistance

•R2 - 2400 •R1 - 2385

Resistance

•R2 - 10400 •R1 - 10250

Support

•S1 - 2350 •S2 - 2320

Support

•S1 - 9950 •S2 - 9850

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