Mentha Oil falls 2.6% on higher sowing estimates. Prices again go below 1500 level. Pepper has shown mixed trend. It opened gap down, traded with bearish bias in the early sessions and then closed flat at 37350.
(prHWY.com) May 8, 2012 - INDORE, India -- MARKET WRAP FOR AGRI COMMODITY
* Chana continued its uptrend on fresh buying and firm spot demand.
* Cardamom edges higher on weak arrival and bad weather conditions.
* Soya bean declines 2.2% on profit booking, prices closed on 3535.
Mentha Oil falls 2.6% on higher sowing estimates. Prices again go below 1500 level. Pepper has shown mixed trend. It opened gap down, traded with bearish bias in the early sessions and then closed flat at 37350. RM Seed opened gap down but gains on fresh buying. Trend remain strong in the next trading session.
TECHNICAL VIEW
PEPPER (MAY) VIEW
Trend: Consolidate| Strategy: Sell on highs
R1- 37680, R2- 38380 | S1- 37020, S2-36320
RM SEED (MAY) VIEW
Trend: Bullish | Strategy: Sell on highs
R1- 4013, R2- 4088 | S1- 3943, S2- 3868
SOYABEAN (MAY) VIEW
Trend: Bullish | Strategy: Sell on highs
R1- 3560, R2- 3610 | S1- 3510, S2-3460
TURMERIC (MAY) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 3750, R2- 3850| S1-3650, S2-3550
POTATO (MAY) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 1113 , R2-1127| S1- 1099, S2- 1085
JEERA (MAY) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 13585, R2- 13885 | S1-13285, S2- 12985
MENTHA OIL (MAY) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 1483, R2- 1509 | S1- 1457, S2- 1431
CARDAMOM (JUNE) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 1223, R2- 1237| S1-1209, S2- 1195
CHANA (MAY) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 4230, R2-4300| S1- 4160, S2- 4090
GUR (MAY) VIEW
Trend: Consolidate | Strategy: Sell on highs
R1- 1210, R2-1224 | S1- 1196, S2- 1182
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