Jeera fell 1 percent on sluggish overseas demand, higher output views and weakness in spot market, a trend which may continue in the next session. Inquiries from overseas buyers are dull as they are expecting prices to fall more on hopes of higher production. Spot rates in Unjha, a key spot market in Gujarat, slipped 11 rupees to end at 12,739 rupees per 100 kg. June contract dropped Rs 115 and settled at Rs 12700 a kg. The contract made intraday low of Rs 12592 a kg and high of Rs 12930 a kg. Support for jeera is at 12551 below that could see a test of 12403. Resistance is now seen at 12889 above that could see a resistance of 13079.

Trading Ideas:

Jeera trading range is 12403-13079.

Jeera fell on sluggish overseas demand and higher output views

Support for the jeera is at 12580 and resistance is at 12820.

NCDEX accredited warehouses jeera stocks rose by 36 tonnes to 7162 tonnes.

In Unjha spot prices fell 11 rupees to end at 12,739 rupees per 100 kg

SELL JEERA JUNE @ 12780-820 SL 12880 TGT 12700-12635-12560.NCDEX