Jeera extended losses for the fourth straight session to end nearly 4 percent down on weak spot demand, higher output estimates and sufficient stocks. In the near term jeera futures are expected to trade weak due to soft near-term fundamentals. However, technical short covering at lower levels may limit a major fall. Spot prices in Unjha fell over 250 rupees to end at 14,159.2 rupees per 100 kg. January contract dropped Rs 566 and settled at Rs 13605 a kg. The contract made intraday low of Rs 13605 a kg and high of Rs 14160 a kg. Support for jeera is at 13420 below that could see a test of 13235. Resistance is now seen at 13975 above that could see a resistance of 14345.

Trading Ideas:

Jeera trading range is 13300-13900.

Jeera ended 4% down on weak spot demand and higher output estimates

Jeera below 14000 mark is having selling pressure

Spot Jeera fell by over 250 rupees to end at 14159 rupees per 100 kg

SELL JEERA JAN @ 13800 SL 13880 TGT 13745-13700-13640.NCDEX