Daily AgriCommodity Report 16-May-2012

Cardamom declines 2.4% on profit booking. Trend may remain uncertain in the next trading session. Chana regains nearly 1.9% on fresh buying.

Indore, India (prHWY.com) May 16, 2012 - MARKET WRAP :

* Mentha Oil hits upper circuit of 4% on firm physical demand.
* Soya bean prices jumps 3.9% on low arrivals and strong demand.
* RM Seed regains nearly 2.5% on rising domestic demand
Cardamom declines 2.4% on profit booking. Trend may remain uncertain in the next trading session. Chana regains nearly 1.9% on fresh buying. June contract closed higher at 4349. Jeera advances 1.6% on firm spot demand. Trend remains strong in the next trading session. Pepper recovered 2.6% on profit booking.
TECHNICAL VIEW
PEPPER (JUNE) VIEW
Trend: Consolidate | Strategy: Sell on highs
R1- 38385, R2- 39085 | S1- 37725, S2-37025
RM SEED (JUNE) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 3909, R2- 3984 | S1- 3839, S2- 3764
SOYABEAN (JUNE) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 3405, R2- 3455 | S1- 3355, S2-3305
TURMERIC (JUNE) VIEW
Trend: Consolidate | Strategy: Sell on highs
R1- 3994, R2- 4094 S1-3894, S2-3794
POTATO (JUNE) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 1112, R2-1126| S1- 1098, S2- 1084
JEERA (JUNE) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 14075, R2- 14375| S1-13775, S2- 13475
MENTHA OIL (MAY) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 1432, R2- 1458 | S1- 1406, S2- 1380
CARDAMOM (JUNE) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 1289, R2- 1303| S1-1275, S2- 1261
CHANA (JUNE) VIEW
Trend: Bullish | Strategy: Buy on dips
R1- 4384, R2-4454| S1- 4314, S2- 4244
GUR (JUNE) VIEW
Trend: Consolidate | Strategy: Sell on highs
R1- 1197, R2-1211 | S1- 1183, S2- 1169
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