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Daily Newsletter-Agri Commodity 18/01/2012

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MARKET WRAP Guar gum and seed hits lower circuit Spices ends mixed, Jeera down 2.25% Chana tumbles for second consecutive day

Guar gum and seed ended down hitting lower circuit as FMC banned any new fresh positions in the current contract coupled with 10% additional margin to stop speculation. Spices traded mixed today with Jeera and Turmeric shredding 2.25% or 370 pts and 0.6% or 26 pts while Pepper ended up 1.8% or 560 pts on the back of fresh buying.

COMMODITY

P. CLOSE

LAST CLOSE

NET CHANGE

% CHANGE

CARDAMOM

640.70

628.30

-12.40

-1.94

CHANA

3,277.00

3,161.00

-116.00

-3.54

GUARGUM

34,906.00

33,510.00

-1,396.00

-4.00

GUARSEED

10,544.00

10,123.00

-421.00

-3.99

JEERA

16,454.00

16,084.00

-370.00

-2.25

MENTHA OIL

1,548.30

1,486.40

-61.90

-4.00

PEPPER

31,230.00

31,790.00

560.00

1.79

MUSTARD SEED

3,756.00

3,775.00

19.00

0.51

SOYABEAN

2,556.50

2,526.00

-30.50

-1.19

TURMERIC

4,480.00

4,454.00

-26.00

-0.58

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TECHNICAL VIEW CARDAMOM (FEB) Trend

• Consolidate • Sell on high

Strategy Resistance Support

• R2 - 655 • R1 - 635 • S1 - 620 • S2 - 600

GUARGUM (FEB) Trend

• Consolidate • Buy on dips

Strategy

CHANA (FEB) Trend Strategy

• Consolidate • Sell on high

Resistance

• R2 - 3270 • R1 - 3190

Support

• S1 - 3120 • S2 - 3040

GUARSEED (FEB) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 34800 • R1 - 33810

Resistance

• R2 - 10500 • R1 - 10250

Support

• S1 - 34100 • S2 - 33050

Support

• S1 - 10000 • S2 - 9790

JEERA (FEB) Trend Strategy

• Consolidate • Sell on high

MENTHA OIL (JAN) Trend

Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 16550 • R1 - 16260

Resistance

• R2 - 1530 • R1 - 1500

Support

• S1 - 15930 • S2 - 15630

Support

• S1 - 1470 • S2 - 1440

PEPPER (FEB) Trend Strategy

• Consolidate • Sell on high

MUSTARD SEED (FEB) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 32820 • R1 - 32130

Resistance

• R2 - 3890 • R1 - 3810

Support

• S1 - 31450 • S2 - 30700

Support

• S1 - 3740 • S2 - 3660

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SOYABEAN (FEB) Trend Strategy

• Consolidate • Sell on high

TURMERIC (MAY) Trend Strategy

• Consolidate • Sell on high

Resistance

• R2 - 2600 • R1 - 2550

Resistance

• R2 - 4600 • R1 - 4500

Support

• S1 - 2500 • S2 - 2450

Support

• S1 - 4400 • S2 - 4310

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