Daily Newsletter Newsletter-Agri Agri Commodity 25/04/2011
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MARKET WRAP Turmeric declines on arrivals Jeera end lower on arrival pressure Pepper rises on supply concerns Soya bean, soy oil drops on adequate supply Chana hits contract low on arrivals Guar futures end steady Mentha oil rises on supply crunch Cardamom gains on firm demand
Turmeric prices in the intraday will trade firm due to improved buying by the market participants. Stockiest at the market are not willing to offload their stocks at lower levels. Rising arrivals of Jeera at spot market amid peak arrivals season are keeping the prices under pressure. Export demand from gulf countries is also very poor which might weigh on sentiments. Overall trend of Pepper is bullish due to limited stocks and good demand at domestic and export front. Fear of higher import of oil in April following full-fledged harvesting of the soy crop in Brazil and Argentina might cap the gains. Rabi arrival is also another bearish factor for the market. The monsoon reports might cause concerns about the increase in acreage under guar seed which affect the sentiments in the markets. The absence of any fresh export demand and the continued arrivals is exerting pressure on the prices. Arrivals of Chana are expected to be in full momentum during this month which would create good buying level at the physical markets. www.capitalheight.com capitalheight.wordpress.com
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TECHNICAL VIEW CARDAMOM (MAY) Trend Strategy Resistance
• Consolidate • Sell on highs • R2 - 1100 • R1 - 1080 • S1 - 1040 • S2 - 1020
Support
GUARGUM (MAY) Trend
• Consolidate • Buy on dips
Strategy
CHANA (MAY MAY) Trend Strategy
• Bearish • Sell on highs
Resistance
• R2 - 2390 • R1 - 2365
Support
• S1 - 2300 • S2 - 2270
GUARSEED (MAY MAY) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 8890 • R1 - 8770
Resistance
• R2 - 3160 • R1 - 3100
Support
• S1 - 8550 • S2 - 8450
Support
• S1 - 3000 • S2 - 2950
JEERA (MAY) Trend Strategy
• Bearish • Sell on highs
MENTHA OIL (APR APR) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 15300 • R1 - 15050
Resistance
• R2 - 1130 • R1 - 1105
Support
• S1 - 14500 • S2 - 14300
Support
• S1 - 1070 • S2 - 1055
PEPPER (MAY) Trend Strategy
• Bullish • Buy on dips
REFINED SOY OIL (MAY MAY) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 29000 • R1 - 28500
Resistance
• R2 - 645 • R1 - 635
Support
• S1 - 27500 • S2 - 26950
Support
• S1 - 625 • S2 - 615
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SOYABEAN (MAY)) Trend Strategy
• Consolidate • Sell on highs
TURMERIC (MAY MAY) Trend Strategy
• Bearish • Sell on highs
Resistance
• R2 - 2495 • R1 - 2465
Resistance
• R2 - 9150 • R1 - 9000
Support
• S1 - 2415 • S2 - 2390
Support
• S1 - 8600 • S2 - 8450
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