Jeera futures traded within a
range during previous trading session by taking mixed cues from spots
market. Jeera futures continue to close lower for the last three days
of the last week mostly because of profit booking. However, spot
prices were up by 1.53% for the week. The arrivals may slow down as
monsoon hit most parts of Gujarat. Rise in arrivals at spot market
due to the current higher rate pulled the market down.
Jeera futures prices are
likely to extend trade on a range bound. Strong export demand may
support the prices to trade high. On the other hand, rise in arrivals
due to the higher price at spot market may limit the gains. Jeera
trade ended the day at Rs. 17840 per quin which is approx 0.08% up
against its previous close. We recommend sell Jeera futures during
today’s trading session.
Seed Newsvine
0 comments:
Post a Comment