Commodity Trading Tips for Jeera by Kedia Commodity

JeeraJeera yesterday traded with the positive node and settled 1% up at 14471 but overall sentimental is weak as pick-up in sowing due to the favorable dry weather and poor exports can weigh on prices. Jeera sowing has gained momentum in the last few weeks in Gujarat, the biggest producer, but is still lower than last year's. As on Dec. 27, the acreage stood at 229,200 hectares, down 4.3 percent from the year-ago figure of 239,400 hectares, data from the state farm department showed. In India, jeera is cultivated during winter from October to December, and harvested in February-April. India's jeera exports in April-November fell 36 percent on year to 22,500 tonnes. At Unjha, a major trading hub in Gujarat, jeera fell 48 rupees to end at 14,471 rupees per 100 kg. For today's session market is looking to take support at 14340, a break below could see a test of 14209 and where as resistance is now likely to be seen at 14564, a move above could see prices testing 14657.

Trading Ideas:

Jeera trading range is 14209-14657.

Jeera jumped and closed 1% higher but overall look weak on increased arrivals in coming session.

Jeera acreage stood at 229,200 hectares, down 4.3 percent from the year-ago figure of 239,400 hectares

India's jeera exports in April-November fell 36 percent on year to 22,500 tonnes.

SELL JEERA JAN @ 14600-650 SL 14780 TGT 14470-14320-14180.NCDEX

In Unjha, a key spot market in Gujarat, jeera gained 27.15 rupees to end at 14498 rupees per 100 kg.