Buy Turmeric Apr @ 13400 SL 13200 TGT 13700-13900. NCDEX - Kedia Advisory
Jeera
BUY JEERA MAR @ 20600 SL 20400 TGT 20900-21200. NCDEX
Observations
Jeera trading range for the day is 20590-20950.
Jeera dropped as demand is low and the current export business is being met from the available stock.
However, only 3-4 lakh bags are expected to be traded by the end of the season, leaving a carry-forward stock of about 16 lakh bags.
The current season is expected to have similar production levels as last year due to better crop conditions and good sowing.
In Unjha, a major spot market, the price ended at 21166.75 Rupees dropped by -0.06 percent.
Dhaniya
BUY DHANIYA APR @ 8250 SL 8150 TGT 8350-8450. NCDEX
Observations
Dhaniya trading range for the day is 8188-8396.
Dhaniya gains on short covering after prices dropped due to heavy arrivals and weak demand.
A large amount of old stock coming into the market as well as preparation for new crop weighed on prices.
Coriander arrivals in Gujarat reached 9,250 bags, much higher than the usual 500-700 bags.
In Gondal, a major spot market, the price ended at 7764.65 Rupees dropped by -0.16 percent.
Turmeric
BUY TURMERIC APR @ 13400 SL 13200 TGT 13700-13900. NCDEX
Observations
Turmeric trading range for the day is 13254-13734.
Turmeric gains as new crop yields are expected to be 10-15% lower this year.
Support also seen amid concerns over slow growth of rhizomes and low yield estimates persist.
With the arrival of new crop likely to increase after Makar Sankranti, supply is expected to increase.
In Nizamabad, a major spot market, the price ended at 13161.25 Rupees dropped by -1.43 percent.
