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Daily Newsletter Newsletter-Agri Agri Commodity 29/06/2011

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MARKET WRAP Chana falls on profit booking Jeera slumps on profit taking Pepper settles lower on short selling Oilseeds, soy oil rebounds on global cues Guar up on domestic demand Turmeric down on profit taking Cardamom up on profit booking

Turmeric futures are expected to trade on slightly positive because of drastic fall in prices growers are becoming reluctant in further selling of their produce. Jeera futures are expected to continue the bearish trend on poor domestic demand. Lack of active buying at spot market is likely to pull down the prices. The gains in both guar seed and gum futures have been substantial during last week. Therefore traders might take advantage of these gains and might go for profit booking. Monsoon is likely to reach Pakistan by Wednesday which might affect the Indian market sentiments. Broad based selling in oilseeds complex in both domestic & international markets is keeping a check on the upside movement. Cardamom futures are projected to continue the positive trend. Fresh buying at lower level is likely to support the prices. However, prices might take decent correction initially on profit selling on higher levels. Damage of recently sown pulse crops in Canada due to excessive rains has sent an alarming signal to the farmers not to prefer pulses for the ongoing sowing season. www.capitalheight.com capitalheight.wordpress.com


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TECHNICAL VIEW CARDAMOM (JULY) Trend Strategy Resistance

• Consolidate • Buy on dips • R2 - 880 • R1 - 865 • S1 - 835 • S2 - 820

Support

GUARGUM (JULY) Trend

• Consolidate • Buy on dips

Strategy

CHANA (JULY JULY) Trend Strategy

• Bullish • Buy on dips

Resistance

• R2 - 2775 • R1 - 2750

Support

• S1 - 2700 • S2 - 2660

GUARSEED (JULY JULY) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 11300 • R1 - 11150

Resistance

• R2 - 3650 • R1 - 3600

Support

• S1 - 10780 • S2 - 10510

Support

• S1 - 3500 • S2 - 3450

JEERA (JULY) Trend Strategy

• Consolidate • Buy on dips

MENTHA OIL (JULY JULY) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 14800 • R1 - 14600

Resistance

• R2 - 895 • R1 - 880

Support

• S1 - 13900 • S2 - 13650

Support

• S1 - 855 • S2 - 840

PEPPER (JULY) Trend Strategy

• Bearish • Sell on high

REFINED SOY OIL (JU JULY) Trend Strategy

• Consolidate • Sell on high

Resistance

• R2 - 28100 • R1 - 27800

Resistance

• R2 - 644 • R1 - 638

Support

• S1 - 26500 • S2 - 26150

Support

• S1 - 626 • S2 - 620

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SOYABEAN (JULY)) Trend Strategy

• Consolidate • Sell on high

TURMERIC (JULY JULY) Trend Strategy

• Consolidate • Sell on high

Resistance

• R2 - 2320 • R1 - 2300

Resistance

• R2 - 7800 • R1 - 7650

Support

• S1 - 2250 • S2 - 2230

Support

• S1 - 7450 • S2 - 7300

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