Jeera ended around 3 percent down and hit new lows as higher production estimates this season continued to hurt prices. Arrivals of the spice will begin next month and traders are expecting that higher acreage and better weather in the crucial growing stage will have improved production this year. Weak physical offtake and sufficient stocks are also expected to weigh on sentiment. Spot jeera fell by 170 rupees to end at 12,346.65 rupees per 100 kg in Unjha. February contract dropped Rs 438 and settled at Rs 11580 a kg. The contract made intraday low of Rs 11550 a kg and high of Rs 11975 a kg. Support for jeera is at 11428 below that could see a test of 11277. Resistance is now seen at 11853 above that could see a resistance of 12127.

Trading Ideas:

Jeera trading range is 11300-11900.

Jeera hits new lows on higher production estimates this season

Weak physical off take and sufficient stocks are also weighed on prices

Now support for the jeera is at 11430 and resistance is at 11690.

Spot jeera prices fell by 170 rupees to end at 12346.65 rupees per 100 kg

BUY JEERA FEB ABV @ 11650 SL 11580 TGT 11690-11740-11790-11830.NCDEX