Turmeric continues to decline ending lower by close to 2% on the back of higher production against sluggish demand in domestic market.
(prHWY.com) January 21, 2013 - Indore, India -- MARKET WRAP FOR AGRICOMMODITY
* Turmeric remains weak on account of higher production.
* Castor Seed tumbles more than 3% due to sluggish demand.
* Mentha Oil declines for third consecutive session losing more than 1%.
Turmeric continues to decline ending lower by close to 2% on the back of higher production against sluggish demand in domestic market. Cardamom rallied to close with a gain of almost 3% on reports of crop damage due to cold waves in the major producing regions. RM Seed advances due to lower level buying by traders.
TECHNICAL VIEW
PEPPER (February) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1-37625, R2- 38370 | S1- 36520 S2-35770
RM SEED (April ) VIEW
Trend: Consolidate | Strategy: Sell on high
R1- 3565, R2-3635| S1-3460 ,S2- 3390
SOYABEAN (February) VIEW
Trend: Consolidate | Strategy: Sell on high
R1-3325 , R2-3390 | S1- 3230 S2-3160
TURMERIC (April) VIEW
Trend: Bullish | Strategy:Buy on dips
R1- 6335, R2-6460 | S1-6145 S2-6020
DHANIYA (April ) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1-6980, R2-7120, S1-6775, S2-6640
JEERA (March) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1-13875 ,R2-14150 S1-13465 , S2-13190
MENTHA OIL (January) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 1325, R2-1351 | S1-1286 , S2- 1260
CARDAMOM (February) VIEW
Trend: Consolidate | Strategy: Buy on Dips
R1-1079 , R2-1100 | S1-1047, S2-1026
CASTOR SEED (February) VIEW
Trend: Bullish | Strategy: =Buy on dips
R1-3630, R2-3700| S1-3520, S2- 3450
CHANA (April ) VIEW
Trend: Consolidate | Strategy: Sell on high
R1-3635, R2-3710| S1- 3530, S2-3455
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