Jeera fell more than a percent on a pick up in arrivals in the physical market and lacklustre demand. Harvesting of the fresh crop has started in Rajasthan, which is also adding to the downside move. Spot rates in Unjha, a key spot market in Gujarat, ended at 11,806 rupees, down 76 rupees. March contract dropped Rs 232 and settled at Rs 11525 a kg. The contract made intraday low of Rs 11430 a kg and high of Rs 11800 a kg. Support for jeera is at 11370 below that could see a test of 11215. Resistance is now seen at 11740 above that could see a resistance of 11955.

Trading Ideas:

Jeera trading range is 11215-11955.

Jeera fell yesterday on a pick up in arrivals in physical market and lacklustre demand.

Jeera looks to take support at 11410 and resistance at 11630 level

NCDEX accredited warehouses jeera stocks remained at 3979 tonnes as on Mar 6.

Spot rates in Unjha fell over 76 rupees and settled at 11806 rupees per 100 kg.

SELL JEERA MAR @ 11600-650 SL 11740 TGT 11520-11460-11380.NCDEX