NCDEX JEERA WEAKNESS, MARKET UNDER LONG LIQUIDATION

Jeera trading range for the day is 14495-15215. Jeera settled down by -3.09% at 14765 on anticipation of an increase in supplies in the local market. In Unjha, a key spot market in Gujarat, jeera edged down by -114.6 rupees to end at 15468.75 rupee per 100 kg. Technically market is under long liquidation as market has witnessed drop in open interest by -0.12% to settled at 17724 while prices down -470 rupee, now Jeera is getting support at 14630 and below same could see a test of 14495 level, and resistance is now likely to be seen at 14990, a move above could see prices testing 15215.

Jeera prices slumped yesterday and later the day closed at 14765 levels. As prices broke the support of 15000 could continue the lower to-wards 14610/14450 or even lower to 14200 levels.
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