AgriCommodity Newsletter 16-August-2012

Cardamom sheds by 2% on selling pressure at higher level.

Indore, India (prHWY.com) August 16, 2012 - MARKET WRAP FOR AGRICOMMODITY

* Cardamom sheds by 2% on selling pressure at higher level.
* Mentha oil & Pepper tumbles by 1% on profit booking and fresh arrival.
* Potato hits 4% upper circuit on increase in demand & low availability.
Cardamom was down by more than 2% on selling pressure, also it is forming higher highs & higher bottoms that is a rising wedge & it's given downside breakout of its wedge, in coming session bearish trend can be expected. Potato closed on 4% upper circuit on increase in demand at spot market, in coming session it may remains bullish.
TECHNICAL VIEW
PEPPER (SEP) VIEW
Trend: Consolidate | Strategy: Sell on high
R1- 44355,R2- 45230| S1- 43044 S2-42170
RM SEED (SEP) VIEW
Trend: Consolidate | Strategy: Sell on high
R1- 4473, R2- 4561 | S1- 4340 ,S2- 4252
SOYABEAN (SEP) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 4023, R2- 4102| S1- 3904 S2-3825
TURMERIC (SEP) VIEW
Trend: Consolidate | Strategy: sell on high
R1-5897,R2- 6013 S1-5723 S2-5606
POTATO (SEP) VIEW
Trend: Consolidate | Strategy: Buy oh dips
R1- 1305, R2-1320, S1- 1262, S2- 1237
JEERA (SEP) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 16351,R2-16673,S1-15868, S2- 15546
MENTHA OIL (AUG) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1-1376, R2- 1403 | S1- 1335, S2- 1308
CARDAMOM (AUG) VIEW
Trend: Consolidate | Strategy: Sell on high
R1- 1201, R2-1225 | S1-1166, S2- 1142
CHANA (SEP) VIEW
Trend: Consolidate | Strategy:Sell on high
R1- 4972, R2-5070| S1- 4825, S2- 4727
GUR (SEP) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 1200, R2-1215| S1- 1170, S2- 1159

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