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Daily Newsletter Newsletter-Agri Agri Commodity 02/05/2011

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MARKET WRAP Turmeric down on increased arrivals Jeera remains steady Pepper up on supply crunch Soy oil rises on short covering Chana falls on profit booking Guar down on increased arrivals Mentha oil remains down on profit booking Cardamom rebounds on weak arrivals

Reduced demand of Turmeric is expected to pressurize the prices. However, stable arrivals at spot might limit the sharp losses. Jeera futures are expected to extend the bearish trend in coming week on strong selling pressure. Rising arrivals at spot market might pressurize the prices. Pepper futures are expected to witness corrections on profit selling as prices are trading at all time high levels. Overall fundamentals of tight supply situation amid reduced production might support the prices at spot market. Domestic traders and investors are likely to buy soybean futures on expectation of revival in demand for the produce. Guar price movement would be dependent on export demand as long as the monsoon forecast remains favorable. In the current crop season, export demand is the only factor which drives prices higher despite bumper crop. 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

• Bearish • Sell on highs • R2 - 1020 • R1 - 1002 • S1 - 970 • S2 - 950

Support

GUARGUM (MAY) Trend

• Consolidate • Buy on dips

Strategy

CHANA (MAY MAY) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 2360 • R1 - 2340

Support

• S1 - 2300 • S2 - 2275

GUARSEED (MAY MAY) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 9000 • R1 - 8860

Resistance

• R2 - 3120 • R1 - 3090

Support

• S1 - 8500 • S2 - 8400

Support

• S1 - 3000 • S2 - 2960

JEERA (MAY) Trend Strategy

• Consolidate • Sell on highs

MENTHA OIL (APR APR) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 15550 • R1 - 15300

Resistance

• R2 - 1100 • R1 - 1085

Support

• S1 - 14930 • S2 - 14700

Support

• S1 - 1055 • S2 - 1040

PEPPER (MAY) Trend Strategy

• Bullish • Buy on dips

REFINED SOY OIL (MAY MAY) Trend Strategy

• Consolidate • Sell on highs

Resistance

• R2 - 30000 • R1 - 29500

Resistance

• R2 - 640 • R1 - 632

Support

• S1 - 28700 • S2 - 28000

Support

• S1 - 620 • S2 - 610

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SOYABEAN (MAY)) Trend Strategy

• Consolidate • Sell on highs

TURMERIC (MAY MAY) Trend Strategy

• Bearish • Sell on highs

Resistance

• R2 - 2455 • R1 - 2435

Resistance

• R2 - 9200 • R1 - 9050

Support

• S1 - 2390 • S2 - 2365

Support

• S1 - 8730 • S2 - 8600

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