Commodity Outlook for Jeera by KediaCommodity

Commodity Outlook for Jeera by KediaCommodityJeera ended up as robust export demand and a delay in sowing supported sentiment. A delayed start to jeera sowing this season is also supporting prices. A prolonged hot and dry spell has delayed the sowing of cumin, or jeera, slashing acreage 25-30 percent from last year. Spot jeera rose by over 125 rupees to end at 13,498.25 rupees per 100 kg in Unjha. December contract gained Rs 11 and settled at Rs 14439 a kg. The contract made intraday low of Rs 14370 a kg and high of Rs 14570 a kg. Support for jeera is at 14349 below that could see a test of 14260. Resistance is now seen at 14549 above that could see a resistance of 14660.

Trading Ideas:

JEERA TRADING RANGE IS 14100-14700.

JEERA ENDED UP ON ROBUST EXPORT DEMAND AND A DELAY IN SOWING BUY JEERA DEC ABV 14450 SL 14360 TGT 14512-14590-14648. NCDEX

A BREAK BELOW 14340 WILL FIND THE SUPPORT AT 14220-14140 LEVEL.

IN UNJHA PRICES GAINED BY OVER 125 RUPEES TO END AT 13498.25 RUPEES PER 100 KG