Jeera struck fresh contract lows on rising arrivals and hopes of higher production. Arrivals are expected to pick up in the next few days and would be peaking in March-April. Spot jeera dropped 72 rupees to end at 11,656 rupees per 100 kg in Unjha. March contract dropped Rs 194 and settled at Rs 11330 a kg. The contract made intraday low of Rs 11225 a kg and high of Rs 11480 a kg. Support for jeera is at 11210 below that could see a test of 11090. Resistance is now seen at 11465 above that could see a resistance of 11600.

Trading Ideas:

Jeera trading range is 11090-11600.

Jeera struck fresh contract lows on rising arrivals and hopes of higher production

Jeera is having support at 11210 and resistance at 11465 level.

NCDEX accredited warehouses jeera stocks rose by 18 tonnes to 4912 tonnes.

SELL JEERA MAR @ 11450-480 SL 11534 TGT 11402-11376-11320-11270.NCDEX

Spot jeera prices dropped 72 rupees to end at 11,656 rupees per 100 kg