Thursday 27 November 2014

JEERA & MAIZE MARKET RISE ON SHORT COVERING

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Jeera market rises on short covering, gains at 12050:-
  • MUMBAI: Jeera settled up 0.25% at 12050 recovered from the day's low on a slight improvement in demand, yesterday market opened at 12135 and made a high of 12140 and dropped till 11930 as pressure seen on adequate stocks position in the physical market on higher supplies from producing belts also put pressure on jeera prices.
  • Jeera trading range for the day is 11830-12250. In Unjha, a key spot market in Gujarat, jeera edged down by -11.95 rupees to end at 12060.55 rupee per 100 kg.
  • Technically market is under short covering as market has witnessed drop in open interest by -2.87% to settled at 6303 while prices up 30 rupee, now Jeera is getting support at Maize trading range for the day is 1160-1182. and below same could see a test of 11830 level, and resistance is now likely to be seen at 12150, a move above could see prices testing 12250.


Maize market rises on short covering, open interest drops 2.29% :-
  • MUMBAI: Maize settled up 0.51% at 1172 on short covering after prices dropped in last few session on lackluster export demand and plentiful U.S. supplies as a record-large harvest wound down.
  • Maize trading range for the day is 1160-1182.
  • Technically market is under short covering as market has witnessed drop in open interest by -2.29% to settled at 8950 while prices up 6 rupee, now Maize is getting support at 1166 and below same could see a test of 1160 level, and resistance is now likely to be seen at 1177, a move above could see prices testing 1182.






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