The document provides a market wrap and technical analysis of various agricultural commodities. Key points include: 1) Chana continues to decline due to arrival pressure while jeera declines on short selling. Pepper and soy oil prices increase on fresh buying and domestic demand. 2) Turmeric and guar prices are expected to depend on arrivals and demand. Jeera prices will trade sideways due to lackluster trades. 3) The technical analysis provides trends and trading strategies for various commodities like cardamom, chana, guar gum, guarseed, and others.

1. Daily Newsletter Agri Commodity
Newsletter-Agri
10/05/2011
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MARKET WRAP
Chana continues downtrend on arrival pressure
Jeera declines on short selling
Pepper extend gains on fresh buying
Soy oil recovers on domestic demand
Guar up on bargain buying
Mentha oil weakens on profit booking
Cardamom surges on weak arrivals
Turmeric rises on short covering
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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TECHNICAL VIEW
CARDAMOM (MAY) CHANA (MAY
MAY)
Trend • Bearish Trend • Bearish
• Sell on highs Strategy • Sell on highs
Strategy
• R2 - 945 • R2 - 2355
Resistance Resistance
• R1 - 930 • R1 - 2330
• S1 - 895 • S1 - 2285
Support Support
• S2 - 877 • S2 - 2265
GUARGUM (MAY) GUARSEED (MAY
MAY)
Trend • Bullish Trend • Bullish
Strategy • Buy on dips • Buy on dips
Strategy
• R2 - 9750 • R2 - 3300
Resistance Resistance
• R1 - 9600 • R1 - 3230
• S1 - 9350 • S1 - 3160
Support Support
• S2 - 9200 • S2 - 3100
JEERA (MAY) MENTHA OIL (APR
APR)
Trend • Consolidate Trend • Bearish
Strategy • Sell on highs Strategy • Sell on highs
• R2 - 14900 • R2 - 1000
Resistance Resistance
• R1 - 14600 • R1 - 980
• S1 - 14250 • S1 - 935
Support Support
• S2 - 13900 • S2 - 915
PEPPER (MAY) REFINED SOY OIL (MAY
MAY)
Trend • Bullish Trend • Consolidate
Strategy • Buy on dips Strategy • Sell on highs
• R2 - 30500 • R2 - 625
Resistance Resistance
• R1 - 30000 • R1 - 620
• S1 - 29100 • S1 - 610
Support Support
• S2 - 28600 • S2 - 605
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SOYABEAN (MAY)
) TURMERIC (MAY
MAY)
Trend • Bearish Trend • Consolidate
Strategy • Sell on highs Strategy • Sell on highs
• R2 - 2385 • R2 - 8860
Resistance Resistance
• R1 - 2350 • R1 - 8650
• S1 - 2285 • S1 - 8440
Support Support
• S2 - 2250 • S2 - 8330
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