Buy Turmeric APR @ 18800 SL 18400 TGT 19300-19600. NCDEX - Kedia Advisory
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JEERA
Observations
* Jeera trading range for the day is 24600-26180.
* Jeera dropped as jeera acreage hits a four-year high in current season.
* However downside seen limited in wake of emerging weather risk in Rajasthan and Gujarat that may affect the yield.
* Stockists are showing interest in buying on recent downfall in prices triggering short covering.
* In Unjha, a major spot market, the price ended at 27798.1 Rupees gained by 0.04 percent.
SELL JEERA APR @ 25400 SL 25800 TGT 24900-24500. NCDEX
DHANIYA
Observations
* Dhaniya trading range for the day is 7990-8186.
* Dhaniya 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%.
SELL DHANIYA APR @ 8100 SL 8200 TGT 8000-7900. NCDEX
TURMERIC
Observations
* Turmeric trading range for the day is 18020-20452.
* Turmeric prices rose 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 16923.45 Rupees gained by 2.35 percent.
BUY TURMERIC APR @ 18800 SL 18400 TGT 19300-19600. NCDEX
