Daily Newsletter Agri Commodity

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                      MARKET WRAP
        Turmeric edges up on short covering

        Jeera ends up on output view, low stocks

        Pepper gains over 3% on poor supply

        Soya bean recovers on short covering

        Chana closes flat, short covering offset arrivals

        Guar up on low supply

        Cardamom weakens on subdued demand

Turmeric futures are expected to extend the losses on strong selling interest in coming

week. However, prices might witness small recovery initially on short covering on

previous losses. Poor export demand amid middle east concern as they are the major

importers of Indian Jeera might weigh on prices and dry weather conditions in major

growing region is also supporting the crop which might create pressure on prices.

Prices quoted by India for Pepper in international market moved up to $5050 per ton

which is very much in order with the prices quoted in other origins. Therefore, few

export inquires can be expected in coming days. Edible Oil Complex may trade with

positive bias owing to reports of crop damage of Soybean in Brazil after floods hit the

growing regions. Guar is expected to extend the earlier gains in the coming week on

account of decline in the arrivals and recovery in demand from the overseas buyers.

Notwithstanding expected bumper production of pulses during 2011-12, India would

require to import 3.40 million tonne of the Chana to match the enhanced demand.

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                        TECHNICAL VIEW
     CARDAMOM (APR)                                  APR)
                                              CHANA (APR

  Trend        • Consolidate       Trend          • Consolidate
               • Sell on highs    Strategy        • Sell on highs
               • R2 - 1140                        • R2 - 2520
Resistance                       Resistance
               • R1 - 1120                        • R1 - 2495
               • S1 - 1080                        • S1 - 2440
 Support                          Support
               • S2 - 1060                        • S2 - 2420

      GUARGUM (APR)                               APR)
                                        GUARSEED (APR

  Trend        • Bullish           Trend          • Bullish
Strategy       • Buy on dips                      • Buy on dips
               • R2 - 9135                        • R2 - 3130
Resistance                       Resistance
               • R1 - 8960                        • R1 - 3075
               • S1 - 8710                        • S1 - 2955
 Support                          Support
               • S2 - 8535                        • S2 - 2895

           JEERA (APR)                            MAR)
                                      MENTHA OIL (MAR

  Trend        • Consolidate      Trend          • Consolidate
Strategy       • Sell on highs   Strategy        • Buy on dips
               • R2 - 16510                      • R2 - 1330
Resistance                       Resistance
               • R1 - 16190                      • R1 - 1300
               • S1 - 15560                      • S1 - 1267
 Support                          Support
               • S2 - 15240                      • S2 - 1227

           PEPPER (APR)                             APR)
                                   REFINED SOY OIL (APR

  Trend        • Consolidate       Trend          • Consolidate
Strategy       • Buy on dips     Strategy         • Sell on highs
               • R2 - 25495                       • R2 - 616
Resistance                       Resistance
               • R1 - 24850                       • R1 - 610
               • S1 - 24025                       • S1 - 595
 Support                          Support
               • S2 - 23535                       • S2 - 585

                                                                                                           Phone- (0731)4295950

         SOYABEAN (APR)                                                                     (APR
                                                                                   TURMERIC (APR)

    Trend              • Consolidate                                         Trend             • Consolidate
  Strategy             • Sell on highs                                     Strategy            • Sell on highs
                       • R2 - 2390                                                             • R2 - 10075
 Resistance                                                                Resistance
                       • R1 - 2370                                                             • R1 - 9850
                       • S1 - 2300                                                             • S1 - 9495
   Support                                                                  Support
                       • S2 - 2270                                                             • S2 - 9300

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