Commodity Outlook for Jeera by Kedia Commodity

Jeera yesterday traded with the positive node and settled 3.61% up at 15087, on a pick-up in spot demand amid a squeeze in supplies and diminishing stocks also news that estimates of lower crop in Syria and Turkey, the major competitors of India, also supported the upside rally.

Daily arrivals have come down to 1,500-2,000 bags of 60 kg each against the total trade of 5,000-6,000 bags. Demand for the spice may further improve after the rainy season, Spot market at Unjha; Jeera gained 83 rupees to end at 14,294 rupees per 100 kg. Jeera exports in April-June 2010 fell 20 percent to 10,750 tonnes from the same period a year ago. For today's session market is looking to take support at 14695, a break below could see a test of 14303 and whereas resistance is now likely to be seen at 15311, a move above could see prices testing 15535.

Jeera trading range is 14124-15356.

Jeera ended firm tracking firmness in other spices and on thin arrivals

Support for the Jeera is at 14695 and resistance is at 15311.

Daily arrivals have come down to 1,500-2,000 bags of 60 kg each.

BUY JEERA SEPT @ 14800-860 SL 14680 TGT 15050-15210.NCDEX

At Unjha, jeera fell 11.85 rupees to end at 14,211.05 rupees per 100 kg