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Daily Newsletter-Agri Commodity 08/09/2011

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MARKET WRAP Potato hits lower circuit on profit booking Mentha oil rebounds on fresh buying Pepper ends up with marginal gains Soybean ends flat, demand weakens Jeera ends up on fresh buying Guar seed & gum up on short covering Cardamom up on short covering Chana ends down on rising supply

Turmeric is expected to trade sideways to negative due to higher arrivals in the market and fresh selling due to subdued demand and sluggish demand outlook. Chana is expected to trade sideways to negative due to rising supply and subdued demand in the physical market. Also, profit booking at higher levels by speculators and rising supply from producing areas will cap its upside. Mentha oil is expected to trade sideways to positive due to fresh buying sentiment and strong demand outlook from Pharmaceutical companies in the near term. Though, its upside gains would be limited due to profit booking at higher levels. Jeera is expected to trade sideways to positive due to fresh buying at lower level and expected rise in export demand in near term. Pepper is expected to trade sideways to positive due to fresh buying at lower levels by traders & good demand outlook in near term due to ongoing festival season & expected further rise in domestic and international export demand will support the prices. www.capitalheight.com capitalheight.wordpress.com


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TECHNICAL VIEW CARDAMOM (SEP) Trend Strategy Resistance

• Consolidate • Sell on high • R2 - 720 • R1 - 700 • S1 - 685 • S2 - 670

Support

GUARGUM (SEP) Trend

• Consolidate • Sell on high

Strategy

CHANA (SEP) Trend

Strategy

• Bullish • Buy on dips

Resistance

• R2 - 3370 • R1 - 3330

Support

• S1 - 3260 • S2 - 3200

GUARSEED (SEP) Trend Strategy

• Consolidate • Sell on high

Resistance

• R2 - 14500 • R1 - 14000

Resistance

• R2 - 4520 • R1 - 4440

Support

• S1 - 13500 • S2 - 13150

Support

• S1 - 4330 • S2 - 4270

JEERA (SEP) Trend Strategy

• Consolidate • Sell on high

MENTHA OIL (SEP) Trend

Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 16200 • R1 - 15750

Resistance

• R2 - 1260 • R1 - 1242

Support

• S1 - 15300 • S2 - 15000

Support

• S1 - 1215 • S2 - 1190

PEPPER (SEP) Trend Strategy

• Consolidate • Buy on dips

MUSTARD SEED (SEP) Trend Strategy

• Consolidate • Sell on high

Resistance

• R2 - 34400 • R1 - 33600

Resistance

• R2 - 2960 • R1 - 2920

Support

• S1 - 32700 • S2 - 32100

Support

• S1 - 2880 • S2 - 2840

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SOYABEAN (SEP) Trend Strategy

• Consolidate • Sell on high

TURMERIC (SEP) Trend Strategy

• Bearish • Sell on high

Resistance

• R2 - 2450 • R1 - 2400

Resistance

• R2 - 5550 • R1 - 5410

Support

• S1 - 2350 • S2 - 2320

Support

• S1 - 5300 • S2 - 5250

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