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Daily Newsletter-Agri Commodity 16/09/2011

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MARKET WRAP Turmeric on a lower circuit spree Soy bean down on sluggish demand RM seed extends downtrend Pepper edges higher Potato extends downtrend Mentha oil up on fresh buying Jeera ends down, below 15K mark Guar gum & seed up on fresh buying

Mentha oil is expected to trade sideways to positive due to strong demand outlook in the near term while fresh buying at lower levels by trades will also support the prices. Guar gum and seed are expected to trade sideways to positive due to weak arrivals from fresh crop and fresh buying at lower level due to its overall uptrend. Also, fall in productivity of major producing regions will support the prices as well. Chana is expected to trade sideways to positive due to steady fresh buying at lower levels in the market amid ongoing festivals and fresh buying at lower level, though, profit booking at higher level can pressurize the prices. Turmeric is expected to trade sideways to negative due to overall negative sentiment and subdued demand in the near term. There has been a steady higher arrival in the market from fresh crop and demand hasn’t picked up despite ongoing festivals. Jeera is expected to trade sideways to negative due to fresh selling on the back of higher arrivals in the market. www.capitalheight.com capitalheight.wordpress.com


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TECHNICAL VIEW CARDAMOM (SEP) Trend Strategy Resistance

• Consolidate • Sell on high • R2 - 660 • R1 - 645 • S1 - 630 • S2 - 615

Support

GUARGUM (SEP) Trend

• Consolidate • Buy on dips

Strategy

CHANA (SEP) Trend

Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 3490 • R1 - 3450

Support

• S1 - 3360 • S2 - 3300

GUARSEED (SEP) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 14100 • R1 - 13850

Resistance

• R2 - 4600 • R1 - 4540

Support

• S1 - 13500 • S2 - 13150

Support

• S1 - 4470 • S2 - 4410

JEERA (SEP) Trend Strategy

• Consolidate • Sell on high

MENTHA OIL (SEP) Trend

Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 15300 • R1 - 15100

Resistance

• R2 - 1280 • R1 - 1265

Support

• S1 - 14750 • S2 - 14500

Support

• S1 - 1235 • S2 - 1220

PEPPER (SEP) Trend Strategy

•Bullish • Buy on dips

MUSTARD SEED (SEP) Trend Strategy

• Consolidate • Sell on high

Resistance

• R2 - 35100 • R1 - 34300

Resistance

• R2 - 2915 • R1 - 2890

Support

• S1 - 33400 • S2 - 32600

Support

• S1 - 2850 • S2 - 2810

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SOYABEAN (SEP) Trend Strategy

• Consolidate • Sell on high

TURMERIC (SEP) Trend Strategy

• Bearish • Sell on high

Resistance

• R2 - 2420 • R1 - 2390

Resistance

• R2 - 4850 • R1 - 4750

Support

• S1 - 2350 • S2 - 2320

Support

• S1 - 4600 • S2 - 4450

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