*Cardamom hits lower circuit on fresh arrivals. *Turmeric trades up on rising spot demand.
(prHWY.com) April 23, 2012 - INDORE, India -- MARKET WRAP FOR AGRI COMMODITY
* Cardamom hits lower circuit on fresh arrivals.
* Turmeric trades up on rising spot demand.
* Soya bean extended its uptrend on strong demand.
Chana traded with bullish bias on first day after expiry. 3740 is the immediate resistance in Chana, bullish trend is expected above this level. Pepper is trading in a mid-term bullish trend. Prices may breach the level of 40000 in the next trading session. RM Seed up by 2.6%, uptrend is extended above 4040 level.
TECHNICAL VIEW
CARDAMOM (MAY) VIEW
Trend: Consolidate | Strategy: Sell on highs
R1- 1154, R2- 1168| S1-1140, S2- 1126
CHANA (MAY) VIEW
Trend: Consolidate| Strategy: Buy on dips
R1- 3740, R2-3810| S1- 3670, S2- 3600
GUR (MAY) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 1214, R2-1228 | S1- 1200, S2- 1186
POTATO (MAY) VIEW
Trend: Consolidate | Strategy:Sell on highs
R1- 1077 , R2-1091 | S1- 1063, S2- 1049
JEERA (MAY) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 12500, R2- 12800 | S1-12200, S2- 11900
MENTHA OIL (MAY) VIEW
Trend: Bearish | Strategy: Sell on highs
R1- 2006, R2- 2032 | S1- 1980, S2- 1954
PEPPER (MAY) VIEW
Trend: Consolidate| Strategy: Buy on dips
R1- 39670, R2- 40370 | S1- 39010, S2-38310
RM SEED (MAY) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 3992, R2- 4067 | S1- 3922, S2- 3847
SOYABEAN (MAY) VIEW
Trend: Bullish | Strategy: Buy on dips
R1- 3379, R2- 3429 | S1- 3329, S2-3279
TURMERIC (MAY) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 3742, R2- 3842| S1-3642, S2-3542
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