Quick Tips: NCDEX Jeera (May): Short-term Bearish

by Vinaya HS on May 22, 2015

in Finance

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NCDEX Jeera Chart 21-May-2015

Jeera prices are trading in higher top higher bottom formation, indicating uptrend. But recently prices have taken resistance at 18600 levels after breaching previous top 17000 levels, forming lower high on RSI, creating divergence. We expect Jeera prices to trade lower in short term and hence recommend to go short in NCDEX Jeera on rise towards Rs. 17950 for the target of Rs. 17300.

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