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Daily Newsletter-Agri Commodity 04/10/2011

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MARKET WRAP Pepper up on strong demand Guar gum & seed up on short covering Turmeric hits upper circuit Mentha oil up on short covering Cardamom ends down on profit booking Chana up on short covering Jeera ends up on short covering demand RM Seed ends up on festive season

Turmeric is expected trade sideways to positive due to expected rise in demand on the back of ongoing festival in domestic market though any news from higher arrival will pressurize the prices on higher level. Jeera is likely to trade sideways to positive due to expected rise in domestic demand amid lower arrivals from fresh crop though pries will take cues from domestic and export demand. Guar gum and seed expected to trade sideways to positive due to back on domestic and export demand in the market amid ongoing festival season will support the price on lower level. Mentha oil is expected to trade sideways to positive due to strong demand from Pharmaceutical Industry and expected rise in export domestic demand in the near future. Cardamom is expected to trade sideways to negative due to sluggish demand outlook in the market amid higher arrival from fresh crop while short covering at lower level may support prices.

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TECHNICAL VIEW CARDAMOM (OCT) Trend Strategy Resistance

• Consolidate • Sell on high • R2 - 728 • R1 - 712 • S1 - 698 • S2 - 684

Support

GUARGUM (OCT) Trend

• Consolidate • Sell on high

Strategy

CHANA (OCT) Trend Strategy

• Consolidate • Sell on high

Resistance

• R2 - 3280 • R1 - 3220

Support

• S1 - 3155 • S2 - 3090

GUARSEED (OCT) Trend Strategy

• Consolidate • Sell on high

Resistance

• R2 - 13900 • R1 - 13625

Resistance

• R2 - 4460 • R1 - 4370

Support

• S1 - 13355 • S2 - 13100

Support

• S1 - 4290 • S2 - 4100

JEERA (OCT) Trend Strategy

• Consolidate • Sell on high

MENTHA OIL (OCT) Trend

Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 15250 • R1 - 14900

Resistance

• R2 - 1395 • R1 - 1370

Support

• S1 - 14600 • S2 - 14300

Support

• S1 - 1345 • S2 - 1320

PEPPER (OCT) Trend Strategy

• Consolidate • Sell on high

MUSTARD SEED (OCT) Trend Strategy

• Consolidate • Sell on high

Resistance

• R2 - 36700 • R1 - 36000

Resistance

• R2 - 2855 • R1 - 2795

Support

• S1 - 35250 • S2 - 34550

Support

• S1 - 2735 • S2 - 2705

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SOYABEAN (OCT) Trend Strategy

• Consolidate • Sell on high

TURMERIC (OCT) Trend Strategy

• Consolidate • Sell on high

Resistance

• R2 - 2175 • R1 - 2135

Resistance

• R2 - 4990 • R1 - 4900

Support

• S1 - 2095 • S2 - 2055

Support

• S1 - 4800 • S2 - 4810

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