Daily AgriCommodity Newsletter 14-May-2012

Jeera prices regained 2.5% on profit booking. Prices may touch 13400 level in the nexttrading session. Pepper is trading below its support level of 36700

Indore, India (prHWY.com) May 14, 2012 - MARKET WRAP FOR AGRI COMMODITY
* Chana recovered nearly 3% on profit booking and fresh buying.
* Mentha Oil declines 2.7% on decrease in industrial demand.
* Soya bean traded weak on long recovering and fresh selling.
Jeera prices regained 2.5% on profit booking. Prices may touch 13400 level in the nexttrading session. Pepper is trading below its support level of 36700, upcoming trend remain weak and prices may decline to 35500. RM seed prices falls 1.1% on decrease in spot demand. Trend remains weak in the next trading session.

TECHNICAL VIEW

PEPPER (MAY) VIEW
Trend: Bearish | Strategy: Sell on highs
R1- 36480, R2- 37180 | S1- 35820, S2-35120
RM SEED (MAY) VIEW
Trend: Consolidate | Strategy: Sell on highs
R1- 3768, R2- 3843 | S1- 3698, S2- 3623
SOYABEAN (MAY) VIEW
Trend: Consolidate | Strategy: Sell on highs
R1- 3393, R2- 3443 | S1- 3343, S2-3293
TURMERIC (MAY) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 3910, R2- 4010 S1-3810, S2-3710
POTATO (MAY) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 1088, R2-1102| S1- 1074, S2- 1060
JEERA (MAY) VIEW
Trend: Consolidate | Strategy: Sell on highs
R1- 13297, R2- 13597| S1-12997, S2- 12697
MENTHA OIL (MAY) VIEW
Trend: Consolidate | Strategy: Sell on highs
R1- 1363, R2- 1389 | S1- 1337, S2- 1311
CARDAMOM (JUNE) VIEW
Trend: Consolidate | Strategy: Sell on highs
R1- 1279, R2- 1293| S1-1265, S2- 1251
CHANA (MAY) VIEW
Trend: Bullish | Strategy: Buy on dips
R1- 4229, R2-4299| S1- 4159, S2- 4089
GUR (MAY) VIEW
Trend: Consolidate | Strategy: Sell on highs
R1- 1189, R2-1203 | S1- 1175, S2- 1161

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