Daily Agri Report

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Daily Newsletter-Agri Commodity 06/09/2011 www.capitalheight.com

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Transcript of Daily Agri Report

Page 1: Daily Agri Report

Daily Newsletter-Agri Commodity 06/09/2011

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Page 2: Daily Agri Report

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MARKET WRAP

Cardamom up on short covering

Chana ends up with marginal gains

Guar gum extends downtrend

Mentha oil extends uptrend

Jeera ends down on subdued demand

Mentha oil ends up on fresh buying

Pepper declines on profit booking

Turmeric gains on fresh buying

Cardamom is expected to trade sideways to positive due to bargain buying and short

covering at lower level, also, expected rise in festive demand are supporting the prices.

Though, any news of higher arrivals in the market can pressurize the prices on upside.

Mentha oil is expected to extend its positive trend on the back of fresh buying due to

weak arrivals from fresh crops and rising demand from Pharmaceutical companies.

Turmeric is expected to trade sideways to positive due to lower arrivals in the market

and fresh positions at lower level due to rising demand. Jeera is expected to trade

sideways to negative due to subdued demand from domestic market and higher arrivals

from fresh crop and lower export demand, though lower output in other major producers

can support the prices at lower level. Pepper is expected to trade sideways to negative

as traders are cautious due to profit booking and a correction is seen in near term

though lower arrivals and tight supply might support prices in near term.

Page 3: Daily Agri Report

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TECHNICAL VIEW

CARDAMOM (SEP) CHANA (SEP)

GUARGUM (SEP) GUARSEED (SEP)

JEERA (SEP) MENTHA OIL (SEP)

PEPPER (SEP) MUSTARD SEED (SEP)

• Consolidate

• Sell on high

Trend

Strategy• R2 - 735

• R1 - 720Resistance

• S1 -695

• S2 - 680 Support

• Bullish

• Buy on dips

Trend

Strategy• R2 - 3390

• R1 - 3335Resistance

• S1 - 3275

• S2 -3215Support

• Consolidate

• Sell on high

Trend

Strategy• R2 - 13900

• R1 - 13750Resistance

• S1 - 13250

• S2 - 13750Support

• Consolidate

• Sell on high

Trend

Strategy• R2 - 4420

• R1 - 4350Resistance

• S1 - 4250

• S2 - 4170Support

• Consolidate

• Sell on high

Trend

Strategy• R2 - 16900

• R1 - 15500Resistance

• S1 - 15000

• S2 - 14600Support

• Consolidate

• Buy on dips

Trend

Strategy• R2 - 1280

• R1 - 1260Resistance

• S1 - 1230

• S2 - 1200Support

• Consolidate

• Buy on dips

Trend

Strategy• R2 - 34400

• R1 - 33600Resistance

• S1 - 32800

• S2 - 32300Support

• Consolidate

• Sell on high

Trend

Strategy• R2 - 2960

• R1 - 2920Resistance

• S1 - 2865

• S2 - 2825Support

Page 4: Daily Agri Report

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Phone- (0731)4295950

SOYABEAN (SEP) TURMERIC (SEP)

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• Consolidate

• Sell on high

Trend

Strategy• R2 - 2450

• R1 - 2415 Resistance

• S1 - 2360

• S2 - 2320 Support

• Bearish

• Sell on high

Trend

Strategy• R2 - 6050

• R1 - 5900Resistance

• S1 - 5650

• S2 - 5550Support