Daily AgriCommodity Report 24-May-2012

Cardamom prices recovered sharply on shortage on stock. Prices advances nearly 3%. Jeera traded in a mixed trend. It opened gap down then bounced back from its support near 12800

Indore, India (prHWY.com) May 24, 2012 - MARKET WRAP FOR AGRICOMMODITY
* Pepper declines sharply on profit booking and low export demand.
* Chana prices recovered on fresh buying and low supply.
* RM Seed declines nearly 2% on ample supply in spot market.
Cardamom prices recovered sharply on shortage on stock. Prices advances nearly 3%. Jeera traded in a mixed trend. It opened gap down then bounced back from its support near 12800 and closed flat at 12982. A bearish trend is expected below 12750. Soya bean continued its downtrend, prices declines nearly 3.1%.

TECHNICAL VIEW
PEPPER (JUNE) VIEW
Trend: Consolidate | Strategy: Sell on highs
R1- 39110, R2- 39810 | S1- 38450, S2-37750
RM SEED (JUNE) VIEW
Trend: Consolidate | Strategy: Sell on highs
R1- 3692, R2- 3767 | S1- 3622, S2- 3547
SOYABEAN (JUNE) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 3290, R2- 3340 | S1- 3190, S2-3240
TURMERIC (JUNE) VIEW
Trend: Consolidate | Strategy: Sell on high
R1- 3964, R2- 4064 S1-3864, S2-3764
POTATO (JUNE) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 1085, R2-1099| S1- 1071, S2- 1057
JEERA (JUNE) VIEW
Trend: Bearish | Strategy: Sell on highs
R1- 13167, R2- 13467| S1-12867, S2- 12567
MENTHA OIL (MAY) VIEW
Trend: Consolidate | Strategy: Sell on highs
R1- 1355, R2- 1381 | S1- 1329, S2- 1303
CARDAMOM (JUNE) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 1328, R2- 1342| S1-1314, S2- 1300
CHANA (JUNE) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 4170, R2-4240| S1- 4100, S2- 4030
GUR (JUNE) VIEW
Trend: Bullish| Strategy: Buy on dips
R1- 1132, R2-1146 | S1- 1118, S2- 1104

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