Tuesday, April 22, 2014

Market Overview

Indian soyoil futures edged higher on Monday %

Commodity Exchange Expiry Price
Change
following gains in overseas palm oil prices and as
Chana NCDEX May 3087 -0.55%
the rupee eased, while soybean futures rose on
dwindling supplies in local spot markets. Turmeric NCDEX May 6838 5.56%
Rapeseed futures also edged higher tracking Jeera NCDEX May 10165 2.42%
gains in edible oils. A weaker rupee makes edible
Soyabean NCDEX May 4424 -1.22%
oil imports expensive. Soybean and soyoil
futures are likely to open higher today on good Soyoil NCDEX May 709.3 -0.76%
demand in spot markets. R M Seed NCDEX May 3487 0.20%
CPO MCX Apr 565.1 -0.32%

Malaysian palm oil futures ended higher after
two days of losses, as investors pinned hopes for Sugar NCDEX May 3221 -1.14%
an increase in demand ahead of a major Muslim Wheat NCDEX May 1545 1.11%
festival.
Mentha Oil MCX Apr 833 -4.30%

Sugar futures fell on profit-taking and sluggish Castor Seed NCDEX May 3918 -0.81%
demand in local spot markets, though an Potato MCX Apr 1313.6 -0.17%
estimated drop in production restricted the
downside. Futures are likely to open higher
today as bulk consumers are likely to increase
purchases at lower prices.
Chart of the Day: Cardamom

Turmeric futures surged on exports inquiries and
a slight drop in supply while jeera futures rose
on an improvement in exports demand. Chana
futures fell on rising supplies from the new
season crop in top producing Madhya Pradesh
state. Futures are likely to open higher since
prices have fallen below the minimum support
level set by the government.

Guar seed futures eased on sluggish demand,

though limited supplies restricted the downside.


MCX Cardamom has been in a short-term uptrend
since the past one month forming higher highs and
higher lows within an upward-sloping channel. The
price has recently rebounded higher from trend line
support C near 905 level and is currently headed
higher. As such a test of channel resistance C1 near
985 level could be possible in the short-term. Buying
on dips should be the strategy for the short-term

 1

Please refer to disclaimer at the end of the report.

 Level Playing Sheet

Commodity Exchange Expiry Close S2 S1 Pivot R1 R2 Trend Conviction Intraday Range

Jeera NCDEX May 10165 9852 10008 10172 10328 10492 Strong Moderate 10090 - 10410

Turmeric NCDEX May 6838 6482 6660 6778 6956 7074 Bullish Moderate 6719 - 7015

Chana NCDEX May 3087 3046 3066 3103 3123 3160 Flat Moderate 3056 - 3113

Soybean NCDEX May 4424 4345 4385 4410 4450 4475 Bearish Moderate 4398 - 4463

Soyoil NCDEX May 709 705.8 707.5 710.3 712.0 714.8 Bearish Moderate 708.9 - 713.4

R M Seed NCDEX May 3487 3450 3468 3486 3504 3522 Bullish Moderate 3477 - 3513

CPO MCX Apr 565 559.2 562.2 564.9 567.9 570.6 Bearish Moderate 564 - 569

Sugar NCDEX May 3221 3187 3204 3232 3249 3277 Bullish Moderate 3196 - 3241

Wheat NCDEX May 1545 1526 1535 1547 1556 1568 Flat Moderate 1541 - 1562

Mentha Oil MCX Apr 833 822 828 837 842 851 Bearish Moderate 825 - 839

Castor Seed NCDEX May 3918 3831 3874 3921 3964 4011 Bearish Moderate 3853 - 3943

Potato MCX Apr 1314 1277.2 1295.4 1313.2 1331.4 1349.2 Bearish Moderate 1304 - 1340

Coriander NCDEX May 9732 9530.7 9631.3 9700.7 9801.3 9870.7 Bullish Moderate 9666 - 9836

For any details contact:

Commodities Advisory Desk - +91 22 3958 3600
commoditiesresearch@motilaloswal.com

Disclaimer:

This report is for the personal information of the authorized recipient and does not construe to be any investment, legal or taxation advice to you. Motilal Oswal
Commodities Broker Private Limited (hereinafter referred as MOCBPL) is not soliciting any action based upon it. This report is not for public distribution and has
been furnished to you solely for your information and should not be reproduced or redistributed to any other person in any form.
The report is based upon information from publicly available data or other sources believed to be reliable, but we do not represent that it is accurate or
complete, and it should not be relied upon such. MOCBPL or any of its affiliates or employees shall not be in any way responsible for any loss or damage that
may arise to any person from any inadvertent error in the information contained in this report.
MOCBPL or any of its affiliates or employees do not provide, at any time, any express or implied warranty of any kind, regarding any matter pertaining to this
report, including without limitation the implied warranties of merchantability, fitness for a particular purpose, and no infringement.
The recipients of this report should rely on their own investigations. MOCBPL and/or its Group Companies, their Directors, affiliates and/or employees may
have interests/ positions, financial or otherwise in the Securities/Commodities and other investment products mentioned in this report.
This information is subject to change without any prior notice. MOCBPL reserves the right to make modifications and alternations to this statement as may be
required from time to time.