Buy Jeera Apr @ 23200 SL 22800 TGT 23600-24000. NCDEX - Kedia Advisory
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Jeera
Observations
Jeera trading range for the day is 22890-23890.
Jeera dropped as there is a possibility of further increase in arrivals pressure in the market.
There will be a huge increase in cumin exports, which will reach about 14-15 thousand tonnes in February 2024.
New arrivals have started in Gujarat since last 20-25 days and new arrivals have started in Rajasthan also since last 15 days.
In Unjha, a major spot market, the price ended at 25906.7 Rupees dropped by -0.55 percent.
BUY JEERA APR @ 23200 SL 22800 TGT 23600-24000. NCDEX
Dhaniya
Observations
Dhaniya trading range for the day is 7482-7958.
Dhaniya gains on low level recovery after prices dropped due to good arrivals
Daily arrival of 40000 bags witnessed in Ramganj mandi and around 20000 to 30000 bags coming in Kota.
Traders are reporting decline in yield highlighting the challenges faced in coriander cultivation
In Nov 2023 around 7,320.13 tonnes of dhaniya was imported as against 4,511.95 tonnes in Oct 2023 showing a rise of 62.23%.
BUY DHANIYA APR @ 7700 SL 7600 TGT 7800-7900. NCDEX
Turmeric
Observations
Turmeric trading range for the day is 15844-17496.
Turmeric dropped on profit booking after prices seen supported amid below normal supplies
Festivals ahead in coming months and commencement of wedding season demand is likely to keep buyers engage.
Production is likely to be dropped by about 14% Y-o-Y due to lower area under turmeric.
In Nizamabad, a major spot market, the price ended at 16391.3 Rupees dropped by -1.61 percent.
BUY TURMERIC APR @ 16300 SL 16000 TGT 16700-17000. NCDEX
