Buy Turmeric Apr @ 14500 SL 14200 TGT 14900-15100. NCDEX - Kedia Advisory
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Jeera
Observations
Jeera trading range for the day is 25850-27450.
Jeera gains on short covering after prices dropped due to higher production prospects
In Gujarat, Cumin sowing witnessed very strong growth by nearly 103% with 530,030.00 hectares against sown area of 2022
Stockists are showing interest in buying on recent downfall in prices triggering short covering.
In Unjha, a major spot market, the price ended at 31745.9 Rupees dropped by -0.87 percent.
BUY JEERA MAR @ 26300 SL 26000 TGT 26800-27100. NCDEX
Dhaniya
Observations
Dhaniya trading range for the day is 7396-7780.
Dhaniya prices dropped amid huge stocks with farmers and stockists.
However, downside seen limited amid lower sowing and robust export demand.
In Nov 2023 around 3,058.06 tonnes of dhaniya was exported as against 3,918.54 tonnes in Oct 2023 showing a drop of 21.96%.
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 @ 7500 SL 7400 TGT 7600-7700. NCDEX
Turmeric
Observations
Turmeric trading range for the day is 14002-15538.
Turmeric dropped on profit booking after prices gained supported by reduced supplies.
Delayed harvesting of new crop and tighter ending stocks is likely to keep market sentiments up
Export has been slow down in recent months and expected to increase in wake of series of festivals ahead.
In Nizamabad, a major spot market, the price ended at 13885.65 Rupees gained by 0.04 percent.
BUY TURMERIC APR @ 14500 SL 14200 TGT 14900-15100. NCDEX
