Jeera February contract ended flat to positive and up by Rs 40 and settled at Rs 11656 a kg futures ended slightly up on Monday but are seen trading lower on Tuesday on pressure from fresh arrivals and higher output estimates, arrivals are expected to pick up 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, the spices board said. Spot jeera fell by 77 rupees to end at 12,086 rupees per 100 kg in Unjha, a major trading hub in Gujarat. The contract made intraday low of Rs 11520 a kg and high of Rs 11778 a kg. Support for jeera is at 11267 below that could see a test of 11393. Resistance is now seen at 11783 above that could see a resistance of 11909.

Trading Ideas:

Jeera trading range is 11393-11909.

Jeera ended slightly up but pressure from fresh arrivals and higher output estimates limited gains

Resistance for the jeera is at 11780 and support is at 11560 level.

NCDEX accredited warehouses jeera stocks seen at 4912 tonnes as on Feb 6.

BUY JEERA FEB 11600 SL 11520 TGT 11660-11722-11780. NCDEX

Spot jeera prices fell by 77 rupees to end at 12,086 rupees per 100 kg