The price of Jeera witnessed a sharp correction during the previous week. This steep fall took the indicators into extremely oversold zone. The key observation to be made is the 3-bar reversal candlestick pattern as highlighted in the chart above. Also, the RSI indicator has come out of the oversold zone indicating that the prices could now pullback from lower levels and in the process test its key moving average clusters placed around the Rs 15000—Rs15150 price zones.
Hence, the current technical setup suggests that the prices of Jeera can trade in pullback mode.
We recommend traders to buy between Rs 14760--Rs14660 levels with a stop loss placed below `14509 levels for upside targets of Rs15000 / Rs15150 levels expected to be achieved over the upcoming 2-3 sessions of trade.
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