Jeera ended weak for a second straight day as hopes of higher output; rising arrivals and weak overseas demand are seen weighing on prices. Buyers are staying away on concerns rising arrivals may push the prices further down. Spot rates in Unjha, a key spot market in Gujarat, price dropped 70 rupees to end at 11,700 rupees per 100 kg. March contract dropped Rs 326 and settled at Rs 11300 a kg. The contract made intraday low of Rs 11251 a kg and high of Rs 11600 a kg. Support for jeera is at 11167 below that could see a test of 11035. Resistance is now seen at 11516 above that could see a resistance of 11733.

Trading Ideas:

Jeera trading range is 11035-11733.

Jeera ended weak for a second straight day as hopes of higher output

Jeera looks to take support at 11170 and resistance at 11520 level

NCDEX accredited warehouses jeera stocks rose by 292 tonnes to 4847 tonnes.

Spot rates in Unjha fell by 70 rupees and settled at 11700 rupees per 100 kg.

SELL JEERA MAR @ 11380 SL 11460 TGT 11322-11280-11243.NCDEX