Jeera ended weak weighed by mounting arrivals, sluggish overseas demand and hopes of higher output. There is no major demand coming in the physical market. Daily arrivals at the Unjha market were 22,000-23,000 bags (60 kgs). Spot rates in Unjha, a key spot market in Gujarat, price dropped 46 rupees to end at 12,098 rupees per 100 kg. April contract dropped Rs 38 and settled at Rs 11548 a kg. The contract made intraday low of Rs 11520 a kg and high of Rs 11638 a kg. Support for jeera is at 11499 below that could see a test of 11451. Resistance is now seen at 11617 above that could see a resistance of 11687.

Trading Ideas:

Jeera trading range is 11451-11687.

Jeera ended weak weighed by mounting arrivals and sluggish overseas demand

Daily arrivals at the Unjha market were 22,000-23,000 bags (60 kgs)

NCDEX accredited warehouses jeera stocks rose by 153 tonnes to 5872 tonnes.

In Unjha spot prices dropped 46 rupees to end at 12,098 rupees per 100 kg.

SELL JEERA APR BELOW 11480 SL 11570 TGT 11415-11356-11290.NCDEX