Daily AgriCommodity Report By Money CapitalHeight

Jeera declines nearly 1% on low domestic demand. June contract closed at 13490. Trend remains weak in the next trading session. Pepper advances 1.22% on higher export demand.

Indore, India (prHWY.com) May 21, 2012 - MARKET WRAP FOR AGRICOMMODITY
* Mentha oil hits upper circuit of 4% on rising spot demand.
* Cardamom edges higher on strong seasonal demand.
* Chana declines nearly 2.2% on profit booking and higher supply.
Jeera declines nearly 1% on low domestic demand. June contract closed at 13490. Trend remains weak in the next trading session. Pepper advances 1.22% on higher export demand. Prices may touch 41000 in the next trading session. Soya bean traded with bearish bias due to profit booking. Bullish trend is expected in the next sessions.

TECHNICAL VIEW
CHANA
Trend: Bullish ; Strategy: Buy On Dips
Resistance: 4500, 4950
Support: 3950, 3450
JEERA
Trend:Bearish ; Strategy: Sell on highs
Resistance: 14000, 15200
Support: 12700, 11570
PEPPER
Trend: Consolidate; Strategy: Buy on dips
Resistance: 43000,52000
Support: 34200, 25200
TURMERIC
Trend: Consolidate; Strategy: Buy on Dips
Resistance: 4400, 5300
Support: 3450, 2500
CARDAMOM (JUNE) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 1353, R2- 1367| S1-1339, S2- 1325
CHANA (JUNE) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 4279, R2-4349| S1- 4209, S2- 4139
GUR (JUNE) VIEW
Trend: Consolidate | Strategy: Sell on highs
R1- 1166, R2-1180 | S1- 1152, S2- 1138
POTATO (JUNE) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 1101, R2-1115| S1- 1087, S2- 1073
JEERA (JUNE) VIEW
Trend: Consolidate | Strategy: Sell on highs
R1- 13640, R2- 13940| S1-13340, S2- 13040
MENTHA OIL (MAY) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 1530, R2- 1556 | S1- 1504, S2- 1478

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