AHMEDABAD (Commodity Online): Jeera prices at Unjha spot market were trading almost unchanged during morning session today. On NCDEX, November future price traded in thin range of 14326 – 14432 with low volume. Other spices also remain direction less on lack of particular direction.
Chartists are expecting Jeera November future price to trade range bound to weak during this week. Cross over of 15150 levels in December contract would indicate strong buying signal.
“Trading range for Jeera November contract is from 13700 to 14650 for short run,” said Anil Patadia, Research Analyst with Commodity Online.
14 days RSI is at 42 and is moving sideways. Technically, strong support for Jeera November contract is near 14020.
“Fundamentally, Jeera is moderate. Trading as per range for short run may be good strategy at this stage, while long term investors can enter if Jeera gives crossover of 15200,” said Patadia.
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