Technical Outlook & Trading Strategy:-
The price of Jeera has been on a decline since it registered a high of Rs 17729 levels as on 26th Jul, 2011.
But the key point to be noted is that the price action of Jeera over the past couple of sessions has formed a two bar bullish reversal pattern on the daily charts.
This could see the price of Jeera testing levels of Rs 15650 levels in a span of 1-2 sessions of trade.
We recommend day / positional traders to take long positions between Rs 15390--Rs 15330 levels with a stop loss placed below Rs 15207 levels for upside targets of Rs 15525 / Rs 15650 levels.
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