Jeera prices reiterated last week as fresh overseas demand and poor yield amid lower arrivals kept the upward bias in prices. According to Sspices board, global demand for the spice increased by 25 percent to 87500 tonnes during the period AprilSeptember 2014-15.

A Sharp recovery rally was seen last week after it broke the falling wedge pattern at 14700 levels. For coming weeks, as long as prices hold the support of 15100 levels could see Upside Rallies towards 16215 followed by 16500 or even higher to 17000 levels. Conversely, looking on the other side, a sharp fall below 14400 could deeply immerse to the bearish zone.

Turmeric prices witnessed a sharp rally and later closed the day at 9088 levels. As prices broke the Trend line resistance of 9050 regions for a strong upside rallies towards 9150 or even higher to 9260/9450 levels. Further, increase in volume supported with positive daily RSI (14) would suggest a near term bullish view in the counter. However, on the other side, drop below 8720 could see profit booking towards 8400 levels. Anyhow, we recommend buying on dips of 9000 levels.

SELL SOYBEAN BELOW 3360

BUY TURMERIC ON DIPS

BUY JEERA ON DIPS