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Daily Newsletter Newsletter-Agri Agri Commodity 11/08/2011

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MARKET WRAP Mentha oil rebounds on industrial demand Soy oil settles higher on positive global cues Pepper hits upper circuit Jeera extends downtrend on weak export demand Chana ends up on fresh buying Guar Gum and Seed hits upper circuit on fresh buying Turmeric hits contract low on higher sowing

Mentha oil in intraday may trade sideways to up on the back of short covering and industrial

demand

while

expected

rise

in

export

and

domestic

demand

from pharmaceutical Industries are likely to provide support to prices in the medium term. Soy oil gained today tracking global markets and on hopes of demand will be steady in the coming months for the upcoming festive seasons. Intraday trend for Soy oil would be sideways to up. Pepper prices in intraday are likely to trade sideways to up owing to lower arrivals and higher off-takes at mandis while buying at lower level will support the prices. Jeera is likely to trade up owing to fresh buying by the traders on the back of rising demand from the spot market. Decline in the arrivals are expected to provide support to the prices. There are reports that fresh export enquiries may be placed in the coming days. Turmeric prices hit contract low as concerns of higher sowing hits investor sentiments. Turmeric prices are expected to trade sideways to down though lower level short covering may support the prices. www.capitalheight.com capitalheight.wordpress.com


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TECHNICAL VIEW CARDAMOM (AUG) Trend Strategy Resistance

• Bearish • Sell on high • R2 - 785 • R1 - 765 • S1 - 740 • S2 - 720

Support

GUARGUM (AUG) Trend

• Consolidate • Sell on high

Strategy

CHANA (AUG AUG) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 3100 • R1 - 3045

Support

• S1 - 2950 • S2 - 2910

GUARSEED (AUG AUG) Trend Strategy

• Consolidate • Sell on high

Resistance

• R2 - 13900 • R1 - 13720

Resistance

• R2 - 4450 • R1 - 4310

Support

• S1 - 13100 • S2 - 12800

Support

• S1 - 4000 • S2 - 3930

JEERA (AUG) Trend Strategy

• Consolidate • Sell on high

MENTHA OIL (AUG AUG) Trend Strategy

• Consolidate • Sell on high

Resistance

• R2 - 15600 • R1 - 15300

Resistance

• R2 - 1175 • R1 - 1150

Support

• S1 - 14700 • S2 - 14300

Support

• S1 - 1110 • S2 - 1090

PEPPER (AUG) Trend Strategy

• Consolidate • Buy on dips

MUSTARD SEED (AUG AUG) Trend Strategy

• Consolidate • Sell on high

Resistance

• R2 - 30650 • R1 - 30150

Resistance

• R2 - 2940 • R1 - 2910

Support

• S1 - 29400 • S2 - 29100

Support

• S1 - 2860 • S2 - 2825

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SOYABEAN (AUG)) Trend Strategy

• Consolidate • Sell on high

TURMERIC (AUG AUG) Trend Strategy

• Consolidate • Sell on high

Resistance

• R2 - 2465 • R1 - 2435

Resistance

• R2 - 6600 • R1 - 6400

Support

• S1 - 2385 • S2 - 2370

Support

• S1 - 6050 • S2 - 5900

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