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Phone- (0731)4295950
MARKET WRAP
Chana up on local buying
Jeera up on bargain buying
Pepper hits contract high
Soybean, Soy oil extend gains on global markets
Guar hits contract high
Mentha oil weakens on profit booking
Cardamom surges on weak arrivals
Turmeric falls on profit booking
Turmeric price trend in the short term (till May) are likely to depend on the arrivals and
demand from the overseas and domestic buyers. Jeera prices in the intraday will trade
sideways due to lackluster trades at the domestic market. Arrivals in the market have
started to decline gradually due to ending season. Lower supplies both in the domestic
as well as in the international coupled with hoarding of Pepper by the Vietnam farmers
will support pepper prices in the short term. Oilseed complex are expected to trade
lower due to weak global market sentiments as concern of palm oil supply and subdued
demand in physical market. The concerns about the shift in acreage from the guar to
cotton in the irrigated guar producing belt are supportive for the prices. Guar futures are
likely to trade firm owing to demand from the overseas buyers. Chana prices might
decline initially on the reports of timely withdrawal of monsoon which would boost the
output of Pulses.
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4. info@capitalheight.com
Phone- (0731)4295950
SOYABEAN (MAY)
) TURMERIC (MAY
MAY)
Trend • Bearish Trend • Consolidate
Strategy • Sell on highs Strategy • Sell on highs
• R2 - 2385 • R2 - 8650
Resistance Resistance
• R1 - 2350 • R1 - 8500
• S1 - 2300 • S1 - 8250
Support Support
• S2 - 2280 • S2 - 8050
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