Jeera Trading Range For The Day is 17065-17695

http://www.ripplesadvisory.com

Jeera on NCDEX settled up by 1.13% at 17390 on expectation of good export demand at the spot market. Further, lower output from the producing regions too fuelled the uptrend. Moreover, sowing in Rajasthan is reported to be lower by 15-20% also supported jeera pries. Reports showed that the sowing of Jeera in Gujarat is pegged at 278,000 hectare as against 295,000 hectare a year ago. The arrivals of jeera in Gujarat is improving so as the demand. Around 3,044 tonnes of jeera arrived during Feb 13-17 compared to 1,957 tonnes in the previous week.

 

Jeera prices gained on expectation of good export demand at the spot market.Moreover, sowing in Rajasthan is reported to be lower by 15-20% also supported jeera prices.Reports showed that the sowing of Jeera in Gujarat is pegged at 278,000 hectare as against 295,000 hectare a year ago.In Unjha, a key spot market in Gujarat, jeera edged up by 112.5 Rupees to end at 17887.5 Rupees per 100 kg.Technically now Jeera is getting support at 17225 and below same could see a test of 17065 level, And resistance is now likely to be seen at 17540, a move above could see prices testing 17695. 

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