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Daily Newsletter Newsletter-Agri Commodity 31/12/2010

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MARKET WRAP Turmeric down on output view Jeera recovers on limited stocks Cardamom falls on short selling Soy bean reverses losses Soy oil hits contract high Guar up on bargain buying Chana gains on seasonal demand

Lower carryover stocks may limit the Turmeric losses. Fresh crop may start hitting the market in next 8-10 days while peak arrivals will start from mid January. Pepper market may trade in a narrow range; reports of delay in fresh arrivals may be the supporting factor for prices. Weather conditions are now favorable for Jeera thus sowing is gradually gaining pace in major growing regions of Gujarat. So, traders are not showing interest in active buying. Dry weather in the Argentina is causing concern to the standing Soybean crop which is giving bullish impetus to the market. In the short term, Chana Price gains may be capped on positive reports of sowing and rising arrivals of Kharif pulses. The buying from the Guar gum millers can prevent steep fall in the prices. The expectation of increase in the crude oil inventory in the short term supports the increase in uptrend in the prices in short term. According to Rajasthan Agriculture Department, Mustard seed acreage as on 20th December rose 20% Y/Y to 2.66 lakh hectares. www.capitalheight.com


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TEECHNICAL VIEW CARDAMOM (JAN) Trend Strategy

• Consolidate • Sell on highs

CHANA (JAN) Trend Strategy

•Consolidate Consolidate • Buy on dips

Resistance

• R2 - 1645 • R1 - 1610

Resistance

• R2 - 2565 • R1 - 2546

Support

• S1 - 1545 • S2 - 1500

Support

• S1 - 2515 • S2 - 2505

GUARGUM (JAN) Trend Strategy

• Consolidate • Sell on highs

GUARSEED (JAN JAN) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 6550 • R1 - 6400

Resistance

• R2 - 2475 • R1 - 2430

Support

• S1 - 6200 • S2 - 6120

Support

• S1 - 2380 • S2 - 2360

JEERA (JAN) Trend Strategy

• Consolidate • Sell on highs

MENTHA OIL (JAN JAN) Trend Strategy

• Bullish • Buy on dips

Resistance

•R2 - 14820 •R1 - 14650

Resistance

• R2 - 1250 • R1 - 1230

Support

•S1 - 14240 •S2 - 14050

Support

• S1 - 1175 •S2 - 1145

MUSTARD SEED (JAN) Trend Strategy

• Consolidate • Buy on dips

PEPPER (JAN)) Trend Strategy

• Consolidate • Sell on highs

Resistance

•R2 - 583 •R1 - 580

Resistance

•R2 - 23000 •R1 - 22710

Support

•S1 - 570 •S2 - 565

Support

•S1 - 22250 •S2 - 22000

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SOYABEAN (JAN)) Trend Strategy

• Consolidate • Buy on dips

TURMERIC (APR) (APR Trend Strategy

• Consolidate • Sell on highs

Resistance

•R2 - 2415 •R1 - 2385

Resistance

•R2 - 11020 •R1 - 10650

Support

•S1 - 2350 •S2 - 2320

Support

•S1 - 10250 •S2 - 10050

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