Live Spot Prices
RBD Palmolein ( MCX ) 579 | Nickel ( MCX ) 686.9 | Silver ( MCX ) 40764 | Menthol Oil ( MCX ) 1170.5 | Castor Seed ( NCDEX ) 4622 | Sugar M ( NCDEX ) 3700 | Wheat ( NCDEX ) 1634
 
Resistances seen at 19265 for NCDEX Jeera
Commodity Online | September 13 2017
UPDATED 11:58:04 IST

MCX Cotton likely to trade in a range between 18147-18527

MCX CPO under long liquidation: Support seen at 537.8

NCDEX Ref.Soya oil likely to trade in a range between 672-678

Mentha Oil market under long liquidation; Support seen at 1165.8

MCX Aluminium likely to trade in a range between 135.1-143.1

Technically now Jeera is getting support at 19080 and below same could see a test of 18980 level, And resistance is now likely to be seen at 19265, a move above could see prices testing 19350.

Jeera on NCDEX settled flat paring its gains after prices seen supported because of depleted stocks and expectations of good export demand in the coming months.

Supplies in major producing centres of Gujarat and Rajasthan are falling day by day because of fag-end of the season. Good export demand is expected due to poor supplies from other jeera producing countries-Syria and Turkey.

Area under jeera crop is likely to increase in the coming season because of prevalent very attractive prices. Above normal rains in producing centres of Gujarat and Rajasthan may help to boost acreage. India's 2016-17 jeera output fell to 489,000 ton from 503,000 ton a year ago, Agriculture Ministry data showed.

However, upside seen limited as exports have been lower than anticipated during the first quarter of new financial year 2017/18. The arrivals have been lower during the first 10 days of September at 1980 tonnes compared to 3271 tonnes in August for same period. India's jeera exports in Jun surged 29.6% on year to 13,503 tn.

However, as per government data, Jeera exports during first quarter in FY 2017/18 (Apr-Jun) is 41,707 tonnes, down 10.8% compared to last year exports volume for the same period.

Higher stocks reported at Unjha market, stockists were fearful as they were buying Jeera from higher levels earlier and now at higher levels buyers reported unresponsive, so they likely to offload their stocks in coming days.

In Unjha, a key spot market in Gujarat, jeera edged down by -45.85 Rupees to end at 19154.15 Rupees per 100 kg.

Trading Ideas:

--Jeera trading range for the day is 18980-19350.

--Jeera settled flat paring its gains after prices seen supported because of depleted stocks and expectations of good export demand .

--Supplies in major producing centres of Gujarat and Rajasthan are falling day by day because of fag-end of the season.

--NCDEX accredited warehouses jeera stocks gained by 138 tonnes to 2867 tonnes.

-In Unjha-, a key spot market in Gujarat, jeera edged down by -45.85 Rupees to end at 19154.15 Rupees per 100 kg.

Courtesy: Kedia Commodities

Commodity Arrivals Rate
Mustard Oil 250 9200.00
Coconut Oil 0.1 17100.00
Arecanut 23 22500.00
Sugar NR 4670.00

More