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Daily Newsletter-Agri Commodity 03/09/2011

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MARKET WRAP Guar gum & seed extends downtrend Pepper ends marginally up Turmeric ends flat on positive bias Mentha oil ends up on upper circuit Jeera declines on weak demand Chana ends up on festive demand RM Seed extends downtrend Cardamom ends down on fresh selling

Mentha oil is expected to trade sideways to positive due to strong buying sentiments and

fresh

buying

owing

to

robust

demand

outlook

in

the

near

term.

Cardamom is expected to trade sideways to negative due to heavy arrivals from fresh crop and fresh selling though expected rise in demand ahead of festival can support the prices. Chana is expected to trade sideways to positive due to rise in demand owing to ongoing festivals and weak arrivals from the fresh crop. Also, lower global pulses production is likely to keep prices firm in near term. Jeera is expected to trade sideways to negative due to poor export demand and subdued domestic demand amid higher arrivals in the market, though lower output in other major producers can support the prices at lower level. Turmeric is expected to trade sideways to negative due to subdued demand in the market and higher arrivals from the fresh crop and major producing regions though short covering can support the prices at lower level. www.capitalheight.com capitalheight.wordpress.com


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TECHNICAL VIEW CARDAMOM (SEP) Trend Strategy Resistance

• Consolidate • Sell on high • R2 - 740 • R1 - 720 • S1 -690 • S2 - 670

Support

GUARGUM (SEP) Trend

• Consolidate • Sell on high

Strategy

CHANA (SEP) Trend

Strategy

• Bullish • Buy on dips

Resistance

• R2 - 3390 • R1 - 3330

Support

• S1 - 3260 • S2 -3210

GUARSEED (SEP) Trend Strategy

• Consolidate • Sell on high

Resistance

• R2 - 14700 • R1 - 14400

Resistance

• R2 - 4450 • R1 - 4390

Support

• S1 - 13800 • S2 - 13200

Support

• S1 - 4280 • S2 - 4200

JEERA (SEP) Trend Strategy

• Consolidate • Sell on high

MENTHA OIL (SEP) Trend

Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 16000 • R1 - 15600

Resistance

• R2 - 1235 • R1 - 1215

Support

• S1 - 15250 • S2 - 14900

Support

• S1 - 1180 • S2 - 1160

PEPPER (SEP) Trend Strategy

• Consolidate • Buy on dips

MUSTARD SEED (SEP) Trend Strategy

• Consolidate • Sell on high

Resistance

• R2 - 34600 • R1 - 33900

Resistance

• R2 - 3000 • R1 - 2960

Support

• S1 - 32900 • S2 - 32300

Support

• S1 - 2910 • S2 - 2870

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SOYABEAN (SEP) Trend Strategy

• Consolidate • Sell on high

TURMERIC (SEP) Trend Strategy

• Bearish • Sell on high

Resistance

• R2 - 2450 • R1 - 2420

Resistance

• R2 - 5950 • R1 - 5850

Support

• S1 - 2370 • S2 - 2340

Support

• S1 - 5650 • S2 - 5550

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