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Daily Newsletter Newsletter-Agri Agri Commodity 17/06/2011

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MARKET WRAP Chana flat on June contract expiry Jeera hits a new contract low on higher stocks Pepper falls on weak export demand Soy complex slumps on global cues Guar futures up on profit booking Mentha oil edges higher on industrial demand Cardamom falls on ample supply Turmeric falls on ample supply

Jeera is expected to continue the bearish trend on poor domestic demand. Lack of active buying at spot market is likely to pull down the prices. Pepper is projected to continue the uptrend on emergence of fresh buying at lower levels. Lower stocks available across the spot markets might also support the prices. Reports of decline in production estimates of Indonesia and Brazil might support the prices. The soy oil might resume the bearish trend as the higher supplies of the edible oils across the globe as per the USDA report is expected to have negative impact. Chana fell as speculators booked profits at high levels, driven by a sluggish spot demand, increased arrivals from producing belts also led to fall in Chana prices. Cardamom is projected to trade slightly positive. Fresh buying at lower level is likely to support the prices. Export inquiries from Gulf amid upcoming festive season might support the prices. We expect guar seed and gum to retain its downtrend. www.capitalheight.com capitalheight.wordpress.com


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TECHNICAL VIEW CARDAMOM (JULY) Trend Strategy Resistance

• Consolidate • Sell on high • R2 - 850 • R1 - 835 • S1 - 805 • S2 - 790

Support

GUARGUM (JULY) Trend Strategy

• Consolidate • Buy on dips

CHANA (JULY LY) Trend Strategy

• Consolidate • Sell on high

Resistance

• R2 - 2660 • R1 - 2640

Support

• S1 - 2590 • S2 - 2570

GUARSEED (JULY LY) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 10720 • R1 - 10600

Resistance

• R2 - 3395 • R1 - 3360

Support

• S1 - 10200 • S2 - 10050

Support

• S1 - 3285 • S2 - 3265

JEERA (JULY) Trend Strategy

• Bearish • Sell on high

MENTHA OIL (JU JUNE) Trend Strategy

• Consolidate • Sell on high

Resistance

• R2 - 14200 • R1 - 14000

Resistance

• R2 - 875 • R1 - 855

Support

• S1 - 13550 • S2 - 13300

Support

• S1 - 825 • S2 - 810

PEPPER (JULY) Trend Strategy

• Consolidate • Buy on dips

REFINED SOY OIL (JULY) ( Trend Strategy

• Consolidate • Sell on high

Resistance

• R2 - 29400 • R1 - 29100

Resistance

• R2 - 640 • R1 - 635

Support

• S1 - 28300 • S2 - 28000

Support

• S1 - 625 • S2 - 620

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SOYABEAN (JULY)) Trend Strategy

• Consolidate • Sell on high

TURMERIC (JU JULY) Trend Strategy

• Consolidate • Sell on high

Resistance

• R2 - 2375 • R1 - 2350

Resistance

• R2 - 7500 • R1 - 7400

Support

• S1 - 2245 • S2 - 2225

Support

• S1 - 7100 • S2 - 7000

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