Turmeric witnessed a sharp rally on Monday rebounding after touching a major support level of 5980 and is expected to remain positive after a small correction in the upcoming session.
(prHWY.com) March 5, 2013 - Indore, India -- MARKET WRAP FOR AGRICOMMODITY
* Turmeric soars close to 3% rebounding from a crucial support level.
* Chana remains bearish on higher arrivals & better production estimates.
* Cardamom declines for second consecutive session losing close to 2%.
Turmeric witnessed a sharp rally on Monday rebounding after touching a major support level of 5980 and is expected to remain positive after a small correction in the upcoming session. Mentha Oil advances more than a percent on short covering at lower levels by traders although lower demand from bulk buyers is likely to pressurize prices.
TECHNICAL VIEW
PEPPER (March) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1-37390, R2- 38125 | S1- 36280 S2-35545
RM SEED (April ) VIEW
Trend: Consolidate | Strategy: Sell on high
R1- 3410, R2-3477| S1-3310 ,S2- 3240
SOYABEAN (March) VIEW
Trend: Consolidate | Strategy: Sell on high
R1-3365 , R2-3430 | S1- 3270, S2-3200
TURMERIC (April) VIEW
Trend: Bullish | Strategy:Buy on dips
R1- 6250, R2-6415 | S1-6105 S2-5980
DHANIYA (April ) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1-6535, R2-6665, S1-6345, S2-6215
JEERA (March) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1-13185 ,R2-13450 S1-12795 , S2-12540
MENTHA OIL (March) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 1276, R2-1301 | S1-1238 , S2- 1213
CARDAMOM (March) VIEW
Trend: Consolidate | Strategy: Buy on Dips
R1-941 , R2-960 | S1-914, S2-895
CASTOR SEED (March) VIEW
Trend: Bullish | Strategy: =Buy on dips
R1-3730, R2-3805| S1-3622, S2- 3550
CHANA (April ) VIEW
Trend: Consolidate | Strategy: Sell on high
R1-3355, R2-3420| S1- 3250, S2-3190
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