Daily AgriCommodity NewsLetter 23-03-2012

* FMC restricts futures trade in guar complex. * Pepper down by 4% on profit booking

INDORE, India (prHWY.com) March 23, 2012 - MARKET WRAP FOR AGRI COMMODITY
* FMC restricts futures trade in guar complex.
* Pepper down by 4% on profit booking
* Soyabean closed flat, uptrend may reverse.

Chana down by 3 %, a sharp reversal has seen in chana. We can expect a downtrend in the next trading sessions. Jeera downtrend continues. Mentha oil hits lower circuit. Profit booking is seen in RM Seed, prices down by 1.9%. Uptrend ends in Pepper, sharp selling results in lower circuit.

TECHNICAL VIEW
PEPPER (FEB) VIEW
Trend: Bearish | Strategy: Sell On Highs
R1- 40940, R2- 41640 | S1- 40280, S2- 39580

MUSTARD SEED (APR) VIEW
Trend: Consolidate | Strategy: Buy on Dips
R1- 3894, R2- 3969 | S1- 3824, S2- 3749

SOYABEAN (FEB) VIEW
Trend: Consolidate | Strategy: Buy On Dips
R1- 2971 R2- 2921 | S1- 2871, S2- 2821

TURMERIC (MAY) VIEW
Trend: Consolidate | Strategy: Sell on High
R1- 4444, R2- 4344| S1-4244, S2-4144

GUARSEED (FEB) VIEW
Trend: Bullish | Strategy: Buy On Dips
R1- 29190, R2-28830 | S1- 28590 S2- 28230

JEERA (FEB) VIEW
Trend: Consolidate | Strategy: Buy On Dips
R1- 12140, R2- 12440 | S1-11840, S2- 11540

MENTHA OIL (JAN) VIEW
Trend: Bearish | Strategy: Sell On High
R1- 2118, R2- 2144 | S1- 2066, S2- 2092

CARDAMOM (FEB) VIEW
Trend: Consolidate | Strategy: Buy On Dips
R1- 1221, R2- 1235| S1-1207 S2- 1193

CHANA (FEB) VIEW
Trend: Bearish | Strategy: Sell On High
R1- 3771, R2-3841| S1- 3701, S2- 3631

GUARGUM (FEB) VIEW
Trend: Bullish | Strategy: Buy On Dips
R1- 92490, R2- 93690| S1- 91690, S2- 99049

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