Daily Newsletter-Agri Commodity 02/09/2011

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MARKET WRAP

Jeera declines on weak exports

Pepper ends up on supply crunch

Turmeric ends flat on negative bias

Guar gum & seed hits lower circuit

Mentha oil ends up on fresh buying

Chana ends down on profit booking

RM Seed ends down on weak exports

Cardamom rebounds on short covering

Jeera is expected to trade sideways to negative due to poor export demand and

domestic subdued demand that will keep prices under pressure coupled with higher

arrivals in the market, though, fresh buying at lower levels could support the prices.

Chana is expected to trade sideways to negative due to profit booking at higher

levels, though, steady trend in physical market coupled with feeble sowing

progress of kharif pulses will support the prices in the near term. Cardamom is

expected to trade sideways to positive due to fresh positions at lower level for

bargain buying and festive season demand will also support the prices. Pepper prices in

intraday is expected to trade sideways to up due to strong fundamentals

and expectation of rise in export and domestic demand, also, lower availability

amidst better off takes & major pepper producing regions have reported lower

stocks that could further extend it uptrend in the near term.

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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 - 760

• R1 - 740Resistance

• S1 -710

• S2 - 680 Support

• Bullish

• Buy on dips

Trend

Strategy• R2 - 3360

• R1 - 3320Resistance

• S1 - 3235

• S2 -3190Support

• Consolidate

• Sell on high

Trend

Strategy• R2 - 14700

• R1 - 14400Resistance

• S1 - 13800

• S2 - 13200Support

• Consolidate

• Sell on high

Trend

Strategy• R2 - 4450

• R1 - 4390Resistance

• S1 - 4280

• S2 - 4200Support

• Consolidate

• Sell on high

Trend

Strategy• R2 - 16200

• R1 - 15800Resistance

• S1 - 15490

• S2 - 15100Support

• Consolidate

• Buy on dips

Trend

Strategy• R2 - 1190

• R1 - 1160Resistance

• S1 - 1130

• S2 - 1090Support

• Bullish

• Buy on dips

Trend

Strategy• R2 - 34600

• R1 - 34000Resistance

• S1 - 32900

• S2 - 32300Support

• Consolidate

• Sell on high

Trend

Strategy• R2 - 3030

• R1 - 2970Resistance

• S1 - 2920

• S2 - 2880Support

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SOYABEAN (SEP) TURMERIC (SEP)

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• Consolidate

• Sell on high

Trend

Strategy• R2 - 2450

• R1 - 2425 Resistance

• S1 - 2375

• S2 - 2350 Support

• Bearish

• Sell on high

Trend

Strategy• R2 - 6000

• R1 - 5900Resistance

• S1 - 5600

• S2 - 5450Support