Jeera trading range for the day is 24950-28550 - Kedia Advisory
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Jeera:
Observations:
Jeera trading range for the day is 24950-28550.
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 32031.05 Rupees gained by 0.29 percent.
SELL JEERA MAR @ 26600 SL 27000 TGT 26100-25800. NCDEX
Dhaniya:
Observations:
Dhaniya trading range for the day is 7550-8070.
Dhaniya gains due to slower sowing progress for the upcoming season.
Dhaniya dropped 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 @ 8000 SL 7900 TGT 8120-8250. NCDEX
Turmeric:
Observations:
Turmeric trading range for the day is 14264-16648.
Turmeric dropped as buying activities has been slower
Pressure also seen amid expectation of release of stocks ahead of commencement of new crops.
Prices also dropped amid Improved crop condition due to favorable weather condition.
In Nizamabad, a major spot market, the price ended at 13895.4 Rupees gained by 0.48 percent.
SELL TURMERIC APR @ 15200 SL 15400 TGT 14900-14600. NCDEX
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