Buy Jeera May @ 21900 SL 21600 TGT 22200-22400. NCDEX - Kedia Advisory
Jeera
BUY JEERA MAY @ 21900 SL 21600 TGT 22200-22400. NCDEX
Observations
Jeera trading range for the day is 21330-22470.
Jeera gained on short covering after prices dropped due to comfortable supplies
Total arrivals in major mandis rose to 32,900 bags from 28,000 bags, increasing supply side.
The current season is expected to have similar production levels as last year.
In Unjha, a major spot market, the price ended at 22492.95 Rupees dropped by -0.01 percent.
Dhaniya
BUY DHANIYA MAY @ 7400 SL 7300 TGT 7500-7600. NCDEX
Observations
Dhaniya trading range for the day is 7336-7560.
Dhaniya dropped due to higher arrivals and limited domestic and export demand
Total arrivals across Gujarat are estimated at 57,500 bags (1 bag = 40 kg).
A large amount of old stock coming into the market as well as new crop weighed on prices.
In Gondal, a major spot market, the price ended at 7342.1 Rupees gained by 0.66 percent.
Turmeric
BUY TURMERIC MAY @ 14000 SL 13700 TGT 14300-14500. NCDEX
Observations
Turmeric trading range for the day is 13426-14542.
Turmeric gained as arrivals declined to 36,942 bags from 47,020 bags as farmers held back supplies
Further, persistent concerns about low arrivals and lower production estimates supported prices.
New crop yields are expected to be 10-15% lower this year, with the Nanded region particularly affected.
In Nizamabad, a major spot market, the price ended at 14511.7 Rupees gained by 0.01 percent.
