Jeera July contract dropped Rs 285 and settled at Rs 12222 a kg. as lacklustre export demand and hopes of higher output weighed on sentiment. Buyers are on the sidelines, awaiting further correction in the market on weak overseas demand. However, local demand is good at current levels.

In Unjha, a key spot market in Gujarat, jeera fell 60 rupees to end at 12,650 rupees per 100 kg. The contract made intraday low of Rs 12206 a kg and high of Rs 12470 a kg. Support for jeera is at 12129 below that could see a test of
12035. Resistance is now seen at 12393 above that could see a resistance of 12563.

Trading Ideas:

Jeera trading range is 12035-12563.

Jeera settled lower as lacklustre export demand and hopes of higher output

Support for the jeera is at 12130 and resistance is at 12390.

NCDEX accredited warehouses chana stocks gained 24 tonnes to 8949 tonnes.

In Unjha spot prices fell 60 rupees to end at 12,650 rupees per 100 kg

BUY JEERA JUNE @ 12250-300 SL 12150 TGT 12380-12465-12570. NCDEX