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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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