Buy Turmeric Apr @ 16400 SL 16100 TGT 16800-17000. NCDEX - Kedia Advisory
JEERA
Observations
Jeera trading range for the day is 23410-25410.
Jeera 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 27075.3 Rupees dropped by -1.02 percent.
BUY JEERA MAR @ 23800 SL 23400 TGT 24300-24600. NCDEX
DHANIYA
Observations
Dhaniya trading range for the day is 7640-8288.
Dhaniya prices gained amid lower sowing and robust export demand.
However, upside seen limited amid huge stocks with farmers and stockists.
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 @ 8050 SL 7950 TGT 8150-8250. NCDEX
TURMERIC
Observations
Turmeric trading range for the day is 15540-17136.
Turmeric gains supported by reduced supplies in the spot market.
However, upside seen limited as buying activities has been slower in expectation of new crops.
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 14621.5 Rupees gained by 1.1 percent.
BUY TURMERIC APR @ 16400 SL 16100 TGT 16800-17000. NCDEX
