Jeera trading range for the day is 25560-27640 - Kedia Advisory
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Jeera:
Observations:
Jeera trading range for the day is 25560-27640.
Jeera gained 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 31761.05 Rupees dropped by -0.07 percent.
BUY JEERA MAR @ 26500 SL 26200 TGT 26900-27300. NCDEX
Dhaniya:
Observations:
Dhaniya trading range for the day is 7580-7840.
Dhaniya dropped amid huge stocks with farmers and stockists
However, downside seen limited due to slower sowing progress for the upcoming season.
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 @ 7600 SL 7500 TGT 7700-7800. NCDEX
Turmeric:
Observations:
Turmeric trading range for the day is 14012-15348.
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 13805.55 Rupees dropped by -0.65 percent.
BUY TURMERIC APR @ 14800 SL 14500 TGT 15200-15500. NCDEX
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