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Daily Newsletter Newsletter-Agri Agri Commodity 21/07/2011

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MARKET WRAP Chana hits contract high Jeera trades higher on export demand Pepper up on tight supply Oilseeds, soy oil rise on demand & positive global cues Guar hits contract high Turmeric tumbles on short covering Mentha oil surges on industrial demand

The demand for Mustard oil which is specific to few northern regions might support the recovery in the prices. Jeera prices are forecast to extend the positive trend on rising export demand amid delay in Syria crop due to prevailing unrest which might support the prices. The sowing progress of Kharif pulses has been good in Maharashtra and Madhya Pradesh which is likely to have a negative impact over market sentiments. The ongoing demand across the physical markets is likely to support the Chana prices to gain. The Cardamom August futures are expected to continue to trade up on short covering. Export demand from gulf is expected to support the prices. There is some scope for upside movement on the back of a strong demand of Mentha oil from pharmaceutical companies, besides export demand. Weak monsoon progress over north-west India might further delay the Guar sowing in rain fed regions of Rajasthan which is likely to push the prices further upside. Turmeric futures may remain sideways following reports of slowdown in sowing due to poor rains in producing regions. www.capitalheight.com capitalheight.wordpress.com


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TECHNICAL VIEW CARDAMOM (AUG) Trend Strategy Resistance

• Consolidate • Buy on dips • R2 - 890 • R1 - 880 • S1 - 845 • S2 - 830

Support

GUARGUM (AUG) Trend

• Bullish • Buy on dips

Strategy

CHANA (AUG AUG) Trend Strategy

• Bullish • Buy on dips

Resistance

• R2 - 3030 • R1 - 3000

Support

• S1 - 2950 • S2 - 2920

GUARSEED (AUG AUG) Trend Strategy

• Bullish • Buy on dips

Resistance

• R2 - 13780 • R1 - 13500

Resistance

• R2 - 4400 • R1 - 4300

Support

• S1 - 13000 • S2 - 12800

Support

• S1 - 4180 • S2 - 4150

JEERA (AUG) Trend Strategy

• Bullish • Buy on dips

MENTHA OIL (JULY JULY) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 17000 • R1 - 16600

Resistance

• R2 - 1175 • R1 - 1155

Support

• S1 - 15950 • S2 - 15700

Support

• S1 - 1100 • S2 - 1080

PEPPER (AUG) Trend Strategy

• Consolidate • Buy on dips

MUSTARD SEED (AUG AUG) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 29200 • R1 - 28600

Resistance

• R2 - 3030 • R1 - 3005

Support

• S1 - 27900 • S2 - 27200

Support

• S1 - 2950 • S2 - 2910

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SOYABEAN (AUG)) Trend Strategy

• Consolidate • Buy on dips

TURMERIC (AUG AUG) Trend Strategy

• Bearish • Sell on high

Resistance

• R2 - 2465 • R1 - 2435

Resistance

• R2 - 7400 • R1 - 7250

Support

• S1 - 2350 • S2 - 2320

Support

• S1 - 7000 • S2 - 6850

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