NCDEX JEERA BULLISH ON LOW PRODUCTION

Low production, rising demand and firm Dollar are likely to keep sentiments firm for Jeera.  NCDEX Jeera June contract may trade bullish for short term and side ways for intra day.
Short term support for NCDEX Jeera June contract is seen at 17200 and resistance at 18350. For intra day, support is at 17500 and resistance at 17800.
NCDEX Jeera June contract was trading up by 0.31% to 17490825 levels on Friday . On Thursday, Jeera continued to trade with very high volatility as no clear direction was obtained ahead of the Monsoon report.
Jeera prices at NCDEX touched all time high of 18700 last month on the back of concerns over lower acreage. Rising export demand amidst falling arrivals in the mandis and lower production reports kept supporting prices.
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