Jeera ended down on increasing arrivals and sluggish demand in the local market. Jeera crop for 2010 is expected 10-15% higher as compared to last year to nearly 1.7 lakh tonnes. In Unjha spot prices of jeera fell 68 rupees higher to 12972 rupees per 100 kg. May contract dropped Rs 39 and settled at Rs 11750 a kg. The contract made intraday low of Rs 11732 a kg and high of Rs 11850 a kg. Support for jeera is at 11705 below that could see a test of 11659. Resistance is now seen at 11823 above that could see a resistance of 11895.

Trading Ideas:

Jeera trading range is 11660-11896.

Jeera ended down on increasing arrivals and weak demand in the local market

Support for the jeera is at 11660 and resistance is at 11830.

NCDEX accredited warehouses jeera stocks rose by 299 tonnes to 6309 tonnes.

In Unjha spot prices fell 68 rupees to end at 12972 rupees per 100 kg.

SELL JEERA MAY ON JUMP @ 11840-880 SL 11925 TGT 11780-11712-11660.NCDEX