AgriCommodity News

Chana prices falls nearly 2.2% on profit booking and sluggish demand in spot market. Trend may remain negative for the next trading session. Jeera traded with bearish bias due to weak export demand.

Indore, India (prHWY.com) May 22, 2012 - MARKET WRAP FOR AGRICOMMODITY
* RM Seed tumbles nearly 2% on poor spot demand and higher supply.
* Pepper remains up on strong domestic demand, prices up 1%.
* Soya bean declines 1% on profit booking, prices closed low at 3377.
Chana prices falls nearly 2.2% on profit booking and sluggish demand in spot market. Trend may remain negative for the next trading session. Jeera traded with bearish bias due to weak export demand. Trend will remains bearish in the next trading session. Turmeric gains 0.8 % on good spot demand. Prices closed near 4100.
TECHNICAL VIEW
PEPPER (JUNE) VIEW
Trend: Bullish | Strategy: Buy on dips
R1- 40650, R2- 41350 | S1- 39990, S2-39290
RM SEED (JUNE) VIEW
Trend: Consolidate | Strategy: Sell on highs
R1- 3772, R2- 3847 | S1- 3702, S2- 3627
SOYABEAN (JUNE) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 3392, R2- 3442 | S1- 3342, S2-3292
TURMERIC (JUNE) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 4136, R2- 4236 S1-4036, S2-3936
POTATO (JUNE) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 1096, R2-1110| S1- 1082, S2- 1068
JEERA (JUNE) VIEW
Trend: Consolidate | Strategy: Sell on highs
R1- 13602, R2- 13902| S1-13302, S2- 13002
MENTHA OIL (MAY) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 1470, R2- 1496 | S1- 1444, S2- 1418
CARDAMOM (JUNE) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 1346, R2- 1360| S1-1332, S2- 1318
CHANA (JUNE) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 4210, R2-4280| S1- 4140, S2- 4070
GUR (JUNE) VIEW
Trend: Consolidate | Strategy: Sell on highs
R1- 1128, R2-1142 | S1- 1114, S2- 1100

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