Jeera Trading Range For The Day Is 19055-19685 - Equity Trading Tips

Jeera on NCDEX settled up by 0.44% at 19340 on the expectations of fresh export deals amid tight stocks. However upside seen limited amid hopes of higher sowing on the back of good rains in the producing states. Traders are expecting fresh export deals in the wake of reports of dwindling supplies from other producing countries-Turkey and Syria. Jeera sowing starts in October and Gujarat and Rajasthan are the only two producing states of the country and both the states received good rains during this monsoon. With higher moisture in the coming days, sowing is likely to be higher than last year. During 2016-17, India's jeera output fell to 489,000 ton from 503,000 ton a year ago and as a result now stocks with traders and farmers are stated to weak.

Trading Ideas:

* Jeera trading range for the day is 19055-19685.

* Jeera prices ended with gains on the expectations of fresh export deals amid tight stocks.

* Traders are also awaiting the commencement of jeera sowing operations, which are likely to begin next month.

* NCDEX accredited warehouses jeera stocks gained by 146 tonnes to 5417 tonnes.

* In Unjha, a key spot market in Gujarat, jeera edged up by 75.4 Rupees to end at 19111.1 Rupees per 100 kg.

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