Jeera hit fresh contract highs but conceded the gains to end almost steady on Friday on profit-booking after rising more than 3 percent in the last two sessions. However, limited supply, decent domestic demand and low stocks limited the downside. Spot rate in Unjha, a key spot market in Gujarat, jumped 276.5 rupees to end at 12,484.50 rupees per 100 kg. June contract gained Rs 15 and settled at Rs 12995 a kg. The contract made intraday low of Rs 12850 a kg and high of Rs 13100 a kg. Support for jeera is at 12863 below that could see a test of 12732. Resistance is now seen at 13113 above that could see a resistance of 13232.

Trading Ideas:

Jeera trading range is 12732-13232.

Jeera ended almost steady on profit-booking after rising more than 3% previously

Support for the jeera is at 12860 and resistance is at 13120.

NCDEX accredited warehouses jeera stocks rose by 3 tonnes to 7002 tonnes.

In Unjha spot prices gained 276 rupees to end at 12,484 rupees per 100 kg

BUY JEERA JUNE ABV 13000 SL 12920 TGT 13070-13180-13240. NCDEX