MARKET WRAP

Jeera plunges on fresh arrivals



Turmeric drops on arrival pressure



Cardamom closed down on profit booking



Guar falls on production estimates



Chana extends losses



Soy oil drops on global cues



Soy bean steady



In the medium term turmeric prices may trade bearish due to increase in the arrivals owing to better production. Any reports of bad weather in the Jeera growing regions might provide support to the prices in the short term. Pepper prices will depend on demand from the overseas & domestic market and fresh arrivals in the market. Mentha oil is expected to continue the bearish trend as active selling may pull down the prices. Sluggish demand due to good sowing progress might further add to the down side. Lack of proper information regarding Guatemala cardamom crop is weighing on market sentiments. Government is concerned about the food inflation levels which might further reduce the stock limits of Chana. The expectations of increase in crude oil inventories in short term are resulting in good global demand for the guar gum in the short term. Thus the buyers might still buy at the current higher price levels as the parity is still higher as the guar gum prices are quoted higher. Traders and investors are likely to sell soy oil futures on fear of likely government intervention to control higher food inflation.



TECHNICAL VIEW



CH CARDAMOM (FEB) VIEW
TREND-BEARISH
STRATEGY-SELL ON HIGHS
RES1-1300 RES2- 1330
SUP1-1230 SUP2- 1200



CH CHANA (FEB) VIEW
TREND-CONSOLIDATE
STRATEGY-BUY ON DIPS
RES1-2665 RES2- 2681
SUP1-2610 SUP2- 2585


CH GUARGUM (FEB) VIEW
TREND-CONSOLIDATE
STRATEGY-SELL ON HIGHS
RES1-8100 RES2- 8250
SUP1-7800 SUP2- 7650


CH GUARSEED (FEB) VIEW
TREND-CONSOLIDATE
STRATEGY-SELL ON HIGHS
RES1-2815 RES2- 2870
SUP1-2710 SUP2- 2680


CH JEERA (FEB) VIEW
TREND-CONSOLIDATE
STRATEGY-BUY ON DIPS
RES1-15250 RES2- 15550
SUPP1-14800 SUPP2- 14600



CH MENTHA OIL (FEB) VIEW
TREND-CONSOLIDATE
STRATEGY-BUY ON DIPS
RES1-1095 RES2- 1115
SUPP1-1055 SUPP2- 1035


CH PEPPER (FEB) VIEW
TREND-CONSOLIDATE
STRATEGY-BUY ON DIPS
RES1-23550 RES2- 24000
SUPP1-22700 SUPP2- 22400


CH REFINED SOY OIL (FEB) VIEW
TREND-CONSOLIDATE
STRATEGY-BUY ON DIPS
RES1-652 RES2- 658
SUPP1-640 SUPP2- 634


CH SOYABEAN (FEB) VIEW
TREND-CONSOLIDATE
STRATEGY-BUY ON DIPS
RES1-2530 RES2- 2560
SUPP1-2470 SUPP2- 2440


CH TURMERIC (APR) VIEW
TREND-BEARISH
STRATEGY-SELL ON HIGHS
RES1-9500 RES2- 9700
SUPP1-9200 SUPP2- 9030





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