Jeera reversed gains and ended down as pressure from higher output estimates this season weighed on sentiment. Arrivals are expected to gather pace in the next few days, and would be peaking in March-April. Jeera exports in December 2009 dropped by 28 percent to 2,500 tonnes on year. Spot jeera fell by over 32 rupees to end at 12,281.25 rupees per 100 kg in Unjha. February contract dropped Rs 267 and settled at Rs 11865 a kg. The contract made intraday low of Rs 11850 a kg and high of Rs 12280 a kg. Support for jeera is at 11717 below that could see a test of 11568. Resistance is now seen at 12147above that could see a resistance of 12428.

Trading Ideas:

Jeera trading range is 11600-12100.

Jeera ended down as pressure from higher output estimates this season weighed on prices

Resistance for the jeera is at 11940 and support is at 11710 level.

Jeera exports in December 2009 dropped by 28 percent to 2,500 tonnes on year

Spot jeera prices fell by over 32 rupees to end at 12281.25 rupees per 100 kg

SELL JEERA FEB @ 11900-960 SL 12020 TGT 11845-11760-11700. NCDEX