Jeera October contract dropped Rs 285 and settled at Rs 13770 a kg due to likely higher sowing in the upcoming season as key growing regions received good rains and also due to lacklustre local demand. Domestic demand has come down at higher levels on hope of increased sowing. Some export demand is there but it is not sufficient enough to strengthen sentiment. In Unjha, a key spot market in Gujarat, jeera dropped -183.85 rupees to end at
14116.65 rupees per 100 kg. The contract made intraday low of Rs 13680 a kg and high of Rs 14084 a kg. Support for jeera is at 13605 below that could see a test of 13441. Resistance is now seen at 14009 above that could see a resistance of 14249.

Trading Ideas:

Jeera trading range is 13441-14249.

Jeera ended weak due to likely higher sowing in the upcoming season

Support for the jeera is at 14000 and resistance is at 13605.

NCDEX accredited warehouses jeera stocks rose 6 tonnes to 5445 tonnes.

In Unjha, a key spot market in Gujarat, jeera dropped -183.85 rupees to end at 14116.65 rupees per 100 kg.