Jeera trading range for the day is 19235-20055. Jeera on NCDEX settled down by -0.53% at 19565 on profit booking after price seen supported last week as stocks in producing as well as in consumption centers are stated to be poor due to fall in output. Expectations of good monsoon withdrawal rainfall in growing states may boost soil moisture ahead of sowing activities. India's 2016-17 jeera output fell to 489,000 ton from 503,000 ton a year ago, agriculture ministry data showed.
CALLS:- BUY JEERA OCT ABOVE 19710 TARGET 19750-19800-19900 WITH SL 19550
Above normal rains in Gujarat and Rajasthan coupled with higher prevailing prices may help farmers to bring more area under jeera in the next season. The National Commodity & Derivatives Exchange (NCDEX) has issued a clarification saying 62 % of the total stock to the exchange-registered warehouses in Unjha, Gujarat, matched up to its quality standards after concerns were raised over the dispatch of sub-standard jeera by traders.
India's 2016-17 jeera output fell to 489,000 ton from 503,000 ton a year ago, Agriculture Ministry data showed. In Unjha, a key spot market in Gujarat, jeera edged down by -20 Rupees to end at 19231.65 Rupees per 100 kg.Technically market is under fresh selling as market has witnessed gain in open interest by 3.09% to settled at 10716 while prices down -105 rupees, now Jeera is getting support at 19400 and below same could see a test of 19235 level, And resistance is now likely to be seen at 19810, a move above could see prices testing 20055.
To Know more Share Market Trending news & Updates Visit - https://www.marketmagnify.com/freetrial.php Or Give Miss call @7879881122.
No comments:
Post a Comment