Jeera ended lower as fresh arrivals in the physical markets and weak overseas demand continue to hurt sentiment, but low carry forward stocks limited the losses. Arrivals have again gained momentum. Daily average arrivals are around 20,000-25,000 bags. Export demand is not supportive. Spot rates in Unjha, a key spot market in Gujarat, price dropped 37 rupees to end at 11,882 rupees per 100 kg. April contract dropped Rs 9 and settled at Rs 11819 a kg. The contract made intraday low of Rs 11710 a kg and high of Rs 11950 a kg. Support for jeera is at 11703 below that could see a test of 11586. Resistance is now seen at 11943 above that could see a resistance of 12066.

Trading Ideas:

Jeera trading range is 11586-12066.

Jeera ended lower as fresh arrivals in the physical markets and weak overseas demand

Jeera looks to take support at 11705 and resistance at 11940 level

NCDEX accredited warehouses jeera stocks fell by 123 tonnes to 6417 tonnes.

Spot rates in Unjha prices dropped 37 rupees to end at 11,882 rupees per 100 kg

SELL JEERA APR @ 11950 SL 12000 TGT 11890-11835-11780.NCDEX