Jeera ended weak on weak spot demand, higher output estimates and sufficient stocks. The sowing of the crop is over and with good weather in the growing regions of Gujarat and Rajasthan output this season is expected to be higher. This year output will be about 2.6-2.8 million bags from 2.2-2.3 million bags last year. Spot jeera fell by over 174 rupees to end at 13,864.3 rupees per 100 kg in Unjha. January contract dropped Rs 295 and settled at Rs 13329 a kg. The contract made intraday low of Rs 13230 a kg and high of Rs 13640 a kg. Support for jeera is at 13159 below that could see a test of 12990. Resistance is now seen at 13569 above that could see a resistance of 13810.

Trading Ideas:

Jeera trading range is 13000-13600.

Jeera ended weak on weak spot demand and higher output estimates

This year output will be about 2.6-2.8 million bags

Spot Jeera fell by over 174 rupees to end at 13,864.3 rupees per 100 kg

SELL JEERA JAN @ 13300-340 SL 13390 TGT 13270-13220-13165.NCDEX