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Daily Newsletter Newsletter-Agri Commodity 28/12/2010

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MARKET WRAP India spices contracts rise on lower supply Pepper rises on export demand Jeera up on lower sowing guar up on bargain-buying Soy oil, soybean rise for 5th day on global cues Mentha gains on high domestic demand Mustard seed rises on short covering

Prospects of improved export and domestic demand for Turmeric in coming weeks & reports of delayed arrivals of the new crop could support the falling rates. Short term trend would remain volatile as traders wait for corrections for buying opportunities. Traders are waiting for some more dips in Jeera before initiating fresh demand. Exports are expected to remain weak and that could keep pressure on the prices in the short term. Local players are expecting a massive surge in Pepper global inquires once the markets start functioning in full force in the new year.. Mustard seed production may increase this year but a lot will depend upon the near term weather. At international levels, stocks are also expected to decline in major Canola producing countries. Supply situation is expected to remain very tight in these countries which may fuel the market sentiments. With arrivals of Guar remaining moderate, traders expect a rising demand in coming weeks could support the prices.

In India soy oil domestic demand has

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TECHNICAL VIEW CARDAMOM (JAN) Trend Strategy

• Bullish • Buy on dips

CHANA (JAN) Trend Strategy

•Consolidate Consolidate • Sell on highs

Resistance

• R2 - 1645 • R1 - 1620

Resistance

• R2 - 2580 • R1 - 2560

Support

• S1 - 1550 • S2 - 1500

Support

• S1 - 2530 • S2 - 2500

GUARGUM (JAN) Trend Strategy

• Consolidate • Buy on dips

GUARSEED (JAN JAN) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 6600 • R1 - 6550

Resistance

• R2 - 2540 • R1 - 2500

Support

• S1 - 6300 • S2 - 6200

Support

• S1 - 2420 • S2 - 2380

JEERA (JAN) Trend Strategy

• Bullish • Buy on dips

MENTHA OIL (JAN JAN) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 15065 •R1 - 14820

Resistance

• R2 - 1200 • R1 - 1177

Support

•S1 - 14300 •S2 - 14050

Support

• S1 - 1130 •S2 - 1100

MUSTARD SEED (JAN) Trend Strategy

• Consolidate • Buy on dips

PEPPER (JAN)) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 588 •R1 - 583

Resistance

•R2 - 23300 •R1 - 23000

Support

•S1 - 574 •S2 - 568

Support

•S1 - 22400 •S2 - 22040

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SOYABEAN (JAN)) Trend Strategy

• Bullish • Buy on dips

TURMERIC (APR) (APR Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 2420 •R1 - 2405

Resistance

•R2 - 11325 •R1 - 11200

Support

•S1 - 2350 •S2 - 2320

Support

•S1 - 10670 •S2 - 10400

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