TODAY AGRI COMMODITY CALL
MM TIP: BUY JEERA JUN ABOVE 18060 TARGET 18110-18160-18250 WITH SL 17900
Jeera on NCDEX settled down by -3.24% at 17945 tracking a subdued trend at spot market on tepid demand. Besides, ample stocks position on increased supplies from the major growing regions in Gujarat and Rajasthan too fuelled the downtrend. However downside seen limited as arrivals have started depleting as farmers are holding stocks hoping rise in prices in the coming months. Jeera exports are expected to touch 120,000 ton in the just ended financial year 2016-17.
Trading Ideas
* Jeera trading range for the day is 17570-18580.
* Jeera prices ended with losses tracking a subdued trend at spot market on tepid demand.
* Jeera exports are expected to touch 120,000 ton in the just ended financial year 2016-17.
* NCDEX accredited warehouses jeera stocks dropped by 336 tonnes to 2176 tonnes.
* In Unjha, a key spot market in Gujarat, jeera edged down by -296.65 Rupees to end at 18420 Rupees per 100 kg.
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