MARKET WRAP


Turmeric up on short covering
Pepper falls on sluggish exports; seen weak
Jeera remains steady
Cardamom gains on short covering
Soy oil climb tailing overseas markets
Guar up on strong fundamentals
Mentha oil up on short covering
Turmeric prices in short term will depend on demand from the domestic and overseas buyers and growth of sown crop. Trend will depend on Jeera price parity of various origins in international market and stocks of Jeera with local stockists. Pepper prices will depend on global black pepper availability and demand from the overseas and domestic market. The guar gum buyers have already stocked enough to fulfill their export consignments, new export consignments shall also be backed off from registering at this higher price levels. The trend reversal can be seen if the prices cool off a bit. In the short to medium term (1-2 week), Chana price gains may be capped on positive reports of sowing and fresh arrivals from Karnataka. Mustard seed prices are expected to trade lower due to higher production estimates of RM Seed amid favorable weather conditions. Huge losses in overseas market are also in favor of bears. Prices of Soy oil are expected to move northwards due to global shortage of vegetable oil couple with strong demand of edible oils.


TECHNICAL VIEW


CH CARDAMOM (JAN) VIEW
TREND-CONSOLIDATE
STRATEGY-SELL ON HIGHS
RES1-1547
RES2- 1575
SUP1-1485
SUP2- 1460

CH CHANA (JAN) VIEW
TREND-CONSOLIDATE
STRATEGY-BUY ON DIPS
RES1-2565
RES2- 2590
SUP1-2530
SUP2- 2505

CH GUARGUM (JAN) VIEW
TREND-CONSOLIDATE
STRATEGY-BUY ON DIPS
RES1-6560
RES2- 6700
SUP1-6300
SUP2- 6200

CH GUARSEED (JAN) VIEW
TREND-CONSOLIDATE
STRATEGY-BUY
ON DIPS
RES1-2500
RES2- 2535
SUP1-2430
SUP2- 2400

CH JEERA (JAN) VIEW
TREND-CONSOLIDATE
STRATEGY-SELL ON HIGHS
RES1-14600
RES2- 14800
SUPP1-14250
SUPP2- 14050

CH MENTHA OIL (JAN) VIEW
TREND-CONSOLIDATE
STRATEGY-BUY ON DIPS
RES1-1170
RES2- 1180
SUPP1-1135
SUPP2- 1110

CH MUSTARD SEED (JAN) VIEW
TREND-CONSOLIDATE

STRATEGY-SELL
ON HIGHS
RES1-562
RES2- 566
SUPP1-560
SUPP2- 556

CH PEPPER (JAN) VIEW
TREND-CONSOLIDATE
STRATEGY-BUY
ON DIPS
RES1-23025
RES2- 23200
SUPP1-22650
SUPP2- 22350

CH SOYABEAN (JAN) VIEW
TREND-CONSOLIDATE
STRATEGY-SELL
ON HIGHS
RES1-2350
RES2- 2370
SUPP1-2300
SUPP2- 2280

CH TURMERIC (JAN) VIEW
TREND-CONSOLIDATE
STRATEGY-BUY
ON DIPS
RES1-10500
RES2- 10850
SUPP1-10150
SUPP2- 10000

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