Agricommodity Market Newsletter 10-May-2012

Chana traded volatile at higher levels, prices closed slightly negative at 4231. Jeera declines 1.3% on profit booking.

Indore, India (prHWY.com) May 10, 2012 - MARKET WRAP FOR AGRI COMMODITY
* Cardamom hits upper circuit on firm domestic demand.
* Turmeric gains nearly 1% on weak arrivals and good demand.
* Mentha oil weighs down on higher production concerns.
Chana traded volatile at higher levels, prices closed slightly negative at 4231. Jeera declines 1.3% on profit booking. Trend remains bearish in the next trading session. RM Seed also declines 2.6% on profit booking, prices closed low at 3863. Soya bean slips 3% on weak export demand, it may correct to 3430 in the next trading session.
TECHNICAL VIEW
PEPPER (MAY) VIEW
Trend: Consolidate| Strategy: Sell on highs
R1- 37545, R2- 38245 | S1- 36885, S2-36185
RM SEED (MAY) VIEW
Trend: Bullish | Strategy: Buy on dips
R1- 3898, R2- 3973 | S1- 3828, S2- 3753
SOYABEAN (MAY) VIEW
Trend: Bullish | Strategy: Sell on highs
R1- 3516, R2- 3566 | S1- 3466, S2-3416
TURMERIC (MAY) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 3770, R2- 3870 S1-3670, S2-3570
POTATO (MAY) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 1095 , R2-1109| S1- 1081, S2- 1067
JEERA (MAY) VIEW
Trend: Consolidate | Strategy: Sell on highs
R1- 13630, R2- 13930| S1-13330, S2- 13030
MENTHA OIL (MAY) VIEW
Trend: Consolidate | Strategy: Sell on highs
R1- 1380, R2- 1406 | S1- 1354, S2- 1328
CARDAMOM (JUNE) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 1284, R2- 1298| S1-1270, S2- 1256
CHANA (MAY) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 4266, R2-4336| S1- 4196, S2- 4126
GUR (MAY) VIEW
Trend: Consolidate | Strategy: Sell on highs
R1- 1200, R2-1214 | S1- 1186, S2- 1172

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