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Daily Newsletter Newsletter-Agri Agri Commodity 02/04/2011

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MARKET WRAP April-Feb spices exports up 4% Turmeric tumbles on fresh arrivals Jeera up on output view Pepper rises on low supply Soya bean, soy oil rises on global cues & export demand hope Cardamom trades up on supply crunch Guar tumbles on short selling Potato surges on firm demand

Turmeric demand from the local stockists and overseas buyer has declined due to sharp fall. Buyers are anticipating further fall in the prices. The fall in the domestic production due to bad weather and lack of arrivals from other producing countries supported domestic Jeera. Pepper prices will depend on demand from the overseas and domestic buyers & will also take cues from prices in the international market of various origins. Spot markets are likely to witness subdued trading ahead of fiscal ending. Full-fledged arrivals of Rabi oilseeds across spot markets are likely to keep pressure on the soy oil market. US farmers are likely to plant more cotton in place of soybean as they are attracted by cotton price rally. The arrivals of Guar are witnessed across the spot markets exerting pressure on the prices while the export demand for the commodity is bleak. The arrival pressure of Chana from Rajasthan is expected to increase in April which might limit the gain in prices. www.capitalheight.com capitalheight.wordpress.com


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TECHNICAL VIEW CARDAMOM (APR) Trend Strategy Resistance

• Consolidate • Sell on highs • R2 - 1145 • R1 - 1130 • S1 - 1095 • S2 - 1075

Support

GUARGUM (APR) Trend

• Consolidate • Sell on highs

Strategy

CHANA (APR APR) Trend Strategy

• Consoldate • Sell on highs

Resistance

• R2 - 2455 • R1 - 2425

Support

• S1 - 2360 • S2 - 2330

GUARSEED (APR APR) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 8535 • R1 - 8370

Resistance

• R2 - 2910 • R1 - 2855

Support

• S1 - 7750 • S2 - 7575

Support

• S1 - 2650 • S2 - 2600

JEERA (APR) Trend Strategy

• Consolidate • Sell on highs

MENTHA OIL (APR APR) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 16250 • R1 - 16000

Resistance

• R2 - 1126 • R1 - 1105

Support

• S1 - 15650 • S2 - 15500

Support

• S1 - 1061 • S2 - 1039

PEPPER (APR) Trend Strategy

• Consolidate • Buy on dips

REFINED SOY OIL (APR APR) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 26100 • R1 - 25400

Resistance

• R2 - 620 • R1 - 610

Support

• S1 - 24850 • S2 - 24450

Support

• S1 - 595 • S2 - 585

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SOYABEAN (APR)) Trend Strategy

• Consolidate • Sell on highs

TURMERIC (APR) (APR Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 2400 • R1 - 2380

Resistance

• R2 - 10270 • R1 - 10070

Support

• S1 - 2340 • S2 - 2300

Support

• S1 - 9720 • S2 - 9564

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