Commodity Outlook for Jeera by Kedia Commodity

Commodity Outlook for Jeera by Kedia CommodityJeera ended weak on rising arrivals in the spot market amid weak overseas demand. Harvesting has gained momentum and arrivals are rising in all major spot markets. Spot rates in Unjha ended at 11,770 rupees, down 25 rupees. March contract dropped Rs 79 and settled at Rs 11627 a kg.

The contract made intraday low of Rs 11560 a kg and high of Rs 11825 a kg. Support for jeera is at 11516 below that could see a test of 11406. Resistance is now seen at 11781 above that could see a resistance of 11936.

Jeera trading range is 11406-11936.

Jeera ended weak on rising arrivals in the spot market amid weak overseas demand

Jeera looks to take support at 11520 and resistance at 11780 level

NCDEX accredited warehouses jeera stocks rose by 165 tonnes to 4555 tonnes.

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Spot rates in Unjha fell by 25 rupees and settled at 11770 rupees per 100 kg.