Jeera closed higher on continued short-covering and falling arrivals. At Unjha, a major trading hub in Gujarat, about 17,000 bags arrived, compared with an average 21,000-22,000 bag last week. Spot rates in Unjha, a key spot market in Gujarat, ended at 11,825.75 rupees, up 147.20 rupees. March contract gained Rs 84 and settled at Rs 11840 a kg. The contract made intraday low of Rs 11650 a kg and high of Rs 12168 a kg. Support for jeera is at 11604 below that could see a test of 11368. Resistance is now seen at 12122 above that could see a resistance of 12404.

Trading Ideas:

Jeera trading range is 11368-12404.

Jeera closed higher on continued short-covering and falling arrivals

Support for jeera is at 11760 and resistance is at 11930.

Yesterday we have seen that open interest at 5952 and volume at 8409 lots.

BUY JEERA MAR ABV 11950 SL 11840 TGT 12040-12120-12170.NCDEX

Spot rates in Unjha ended at 11,825.75 rupees, up 147.20 rupees per 100 kg.