After witnessing some profit booking at higher levels, Jeera prices at NCDEX, June contract traded up on fresh buying
sentiments in last trading session at continues it in today's trading session as
well.
Jeera Prices at NCDEX, June contract is having support at 13300 level while 14100 is the resistance for the same.
In the medium to long term prices are likely to remain weak owing to bumper production this season. Prices will also take cues from weather prevailing in Syria and Turkey, the other major producers of the spice where the sowing is almost complete. Fresh crop arrivals will commence from June.
Technically, 14 days RSI on Daily chart at 62 indicates some up side.
‘’Positional traders should buy only above 14100 level”.
Jeera Prices at NCDEX, June contract is having support at 13300 level while 14100 is the resistance for the same.
In the medium to long term prices are likely to remain weak owing to bumper production this season. Prices will also take cues from weather prevailing in Syria and Turkey, the other major producers of the spice where the sowing is almost complete. Fresh crop arrivals will commence from June.
Technically, 14 days RSI on Daily chart at 62 indicates some up side.
‘’Positional traders should buy only above 14100 level”.
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