Since Jeera has broken down from the wedge pattern it has fallen sharply. The fall is unfolding in a channelised manner and is breaking up into lower degree waves. Recently a lower degree fourth wave bounce has been formed. It faces resistance near the upper channel line, the 40-daily exponential moving average and the daily upper Bollinger Band. Thus the upside is caped at the high of Rs12,580. On the downside the low of Rs11,275 and the lower channel line (Rs10,750) are short-term targets.
