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Daily Newsletter-Agri Commodity 05/11/2011

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MARKET WRAP Chana ends up on short covering Turmeric ends down on profit booking Guar gum & seed up on fresh buying

Spices traded in red today with turmeric losing almost 1.40% or 70 pts due to profit booking on the back of subdued demand and Pepper shredding 1.70% or 580 pts due to decline in export and expectation of higher arrival from fresh crops. In pluses, Chana ended up in green, up 1.46% or 50 pts due to short covering and weak arrival.

COMMODITY

P. CLOSE

LAST CLOSE

NET CHANGE

% CHANGE

CARDAMOM

652.90

646.80

-6.10

-0.93

CHANA

3,405.00

3,455.00

50.00

1.47

GUARGUM

13,907.00

14,151.00

244.00

1.75

GUARSEED

4,536.00

4,556.00

20.00

0.44

JEERA

14,391.00

14,270.00

-121.00

-0.84

MENTHA OIL

1,339.50

1,328.00

-11.50

-0.86

PEPPER

33,660.00

33,080.00

-580.00

-1.72

MUSTARD SEED

3,060.00

3,070.00

10.00

0.33

SOYABEAN

2,202.50

2,215.00

12.50

0.57

TURMERIC

5,074.00

5,004.00

-70.00

-1.38

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TECHNICAL VIEW CARDAMOM (NOV) Trend Strategy Resistance

• Consolidate • Sell on high • R2 - 668 • R1 - 654 • S1 - 640 • S2 - 626

Support

GUARGUM (NOV) Trend

• Consolidate • Buy on dips

Strategy

CHANA (NOV) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 3545 • R1 - 3485

Support

• S1 - 3425 • S2 - 3365

GUARSEED (NOV) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 14540 • R1 - 14280

Resistance

• R2 - 4690 • R1 - 4600

Support

• S1 - 14020 • S2 - 13760

Support

• S1 - 4510 • S2 - 4420

JEERA (NOV) Trend Strategy

• Consolidate • Sell on high

MENTHA OIL (NOV) Trend

Strategy

• Consolidate • Sell on high

Resistance

• R2 - 14720 • R1 - 14420

Resistance

• R2 - 1367 • R1 - 1340

Support

• S1 - 14120 • S2 - 13820

Support

• S1 - 1315 • S2 - 1289

PEPPER (NOV) Trend Strategy

• Consolidate • Sell on high

MUSTARD SEED (NOV) Trend Strategy

• Consolidate • Sell on high

Resistance

• R2 - 34150 • R1 - 33445

Resistance

• R2 - 3152 • R1 - 3098

Support

• S1 - 32715 • S2 - 32015

Support

• S1 - 3045 • S2 - 2985

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SOYABEAN (NOV) Trend Strategy

• Consolidate • Sell on high

TURMERIC (NOV) Trend Strategy

• Bearish • Sell on high

Resistance

• R2 - 2275 • R1 - 2235

Resistance

• R2 - 5155 • R1 - 5055

Support

• S1 - 2195 • S2 - 2155

Support

• S1 - 4955 • S2 - 4855

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