Jeera ended up on bargain buying after prices fell over 20 percent in January. Fundamentals remained weak as higher output estimates this season due to favourable weather conditions in the growing regions may weigh on sentiment. Low export demand will also put pressure on prices. Spot jeera rose by over 82 rupees to end at 12,314.1 rupees per 100 kg in Unjha. February contract gained Rs 256 and settled at Rs 12162 a kg. The contract made intraday low of Rs 11890 a kg and high of Rs 12190 a kg. Support for jeera is at 11971 below that could see a test of 11781. Resistance is now seen at 12271 above that could see a resistance of 12381.

Trading Ideas:

Jeera trading range is 11900-12400.

Jeera ended up on bargain buying whereas fundamentals remained weak

Resistance for the jeera is at 12270 and support is at 12020 level.

Low export demand will also put pressure on prices

WAIT FOR FRESH ENTRY 12060 IS THE IMP SUPPORT LEVEL.

Spot jeera prices rose by over 82 rupees to end at 12314.10 rupees per 100 kg