HI VIEWERS, JEERA FUTURES UP MORE THAN RS 300 ON WEAK ARRIVALS, SPOT DEMAND
Date: 04/04/2012
Indian Jeera extended the gains on short covering triggered by weak arrivals and strong spot demand. The spot Jeera price were trading in the range of Rs 10,000-11,500 per quintal at Unjha Mandi. Best quality was trading in the range of Rs 14,000-15,000 per quintal. The total arrivals slipped to 28,000 bags from 40,000 bags received as on last day. The NCDEX Jeera April contract moved in the range of Rs 12,267-12,000 and is currently trading higher at Rs 12,155 per quintal, up by Rs 220 or 1.84% per quintal. Fresh positions built up by speculators on pick-up in spot demand mainly led to the rise in Jeera futures prices. Technically, Jeera April delivery is expected to find resistance at Rs 12,300, Rs 12,350 while support is at Rs 12,000, Rs 11,870 per quintal. www.goldennifty.com
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