MARKET WRAP

Chana up on demand

Jeera falls on weak exports

Pepper falls on profit booking

Soy oil, soybean extend gains on world market

Guar gum hits upper circuit on fresh buying

Mentha oil soars on firm demand

Cardamom weakens on profit booking

Turmeric falls on weak exports

Turmeric prices in the intraday will trade sideways due to lackluster demand from local stockists. Demand from north India is also poor that is why traders are not interested in bulk buying. Jeera prices in the intraday will trade sideways to up due to dwindling arrivals in the domestic market. Any reports of crop damage in Syria might support prices in the short term. Trade of cheap imported pepper along with panic selling due to introduction of special margin might add to the down side. Hoarding of Pepper by the Vietnam farmers will also help prices to remain firm. The concerns about the early onset of the monsoon might raise the hopes for higher acreage under guar seed which might affect market sentiments for coming days. Good demand for Chana across the spot market ahead of upcoming festive season is likely to support the prices. The near term demand for the edible oil and the soy bean for sowing purposes may lend support to the oil prices. Lack of buying interest at spot market might weigh on Cardamom prices.

TECHNICAL VIEW

CARDAMOM (JUNE) VIEW

Trend: Bearish | Strategy: Sell on Highs

R1 – 730. R2- 745 | S1- 705, S2- 685

CHANA (JUNE) VIEW

Trend: Consolidate | Strategy: Buy on Dips

R1- 2575, R2- 2600 | S1- 2530, S2- 2500

GUARGUM (JUNE) VIEW

Trend: Bullish | Strategy: Buy on Dips

R1- 10900, R2- 11100 | S1- 10500, S2- 10300

GUARSEED (JUNE) VIEW

Trend: Bullish | Strategy: Buy on Dips

R1- 3400, R2- 3450 | S1- 3300, S2- 3260

JEERA (JUNE) VIEW

Trend: Consolidate | Strategy: Buy on Dips

R1- 14400, R2- 14750 | S1- 13800, S2- 13500

MENTHA OIL (JUNE) VIEW

Trend: Consolidate | Strategy: Sell on Highs

R1- 900, R2- 920 | S1- 875, S2- 860

PEPPER (JUNE) VIEW

Trend: Consolidate | Strategy: Buy on Dips

R1- 29250, R2- 29600 | S1- 28500, S2- 28000

REFINED SOY OIL (JUNE) VIEW

Trend: Bullish | Strategy: Buy on Dips

R1- 665, R2- 670 | S1- 655 S2- 650

SOYABEAN (JUNE) VIEW

Trend: Consolidate | Strategy: Sell on Highs

R1- 2410, R2- 2430 | S1- 2350, S2- 2325

TURMERIC (JUNE) VIEW

Trend: Bearish | Strategy: Sell on Highs

R1- 7500, R2- 7670 | S1-7300, S2- 7200

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