Jeera ended lower on estimates of higher output, weak exports and on pressure from the fresh arrivals. Production may be higher this year as weather was good during the development period of the crop. Demand from the overseas market has not picked up. At Unjha, the spot benchmark market in Gujarat, jeera gained 35 rupees to 12,007 rupees per 100 kg. May contract dropped Rs 96 and settled at Rs 11657 a kg. The contract made intraday low of Rs 11635 a kg and high of Rs 11788 a kg. Support for jeera is at 11599 below that could see a test of 11540. Resistance is now seen at 11752 above that could see a resistance of 11846.

Trading Ideas:

Jeera trading range is 11540-11846.

Jeera ended lower on estimates of higher output and weak exports

Support for the jeera is at 11600 and resistance is at 11750.

NCDEX accredited warehouses jeera stocks rose by 144 tonnes to 6453 tonnes.

In Unjha spot prices rose 10 rupees to end at 12982 rupees per 100 kg.

SELL JEERA MAY ON JUMP @ 11780-800 SL 11870 TGT 11712-11660-11600.NCDEX