Jeera ended weak on sluggish overseas demand, higher output views and weakness in spot market. Production in 2010 is seen rising to 2.9 million bags of 60 kg each from 2.7 million bags in 2009. At Unjha, the benchmark spot market in Gujarat, jeera was fell 49 rupees to end at 12,690 rupees per 100 kg. June contract dropped Rs 110 and settled at Rs 12576 a kg. The contract made intraday low of Rs 12558 a kg and high of Rs 12749 a kg. Support for jeera is at 12506 below that could see a test of 12437. Resistance is now seen at 12697 above that could see a resistance of 12819.

Trading Ideas:

Jeera trading range is 12478-12860.

Jeera ended weak on higher output views and weakness in spot market

Support for the jeera is at 12506 and resistance is at 12700.

NCDEX accredited warehouses jeera stocks rose by 384 tonnes to 7546 tonnes.

SELL JEERA JUNE @ 12780-820 SL 12920 TGT 12725-12640.NCDEX

In Unjha spot prices fell 49 rupees to end at 12,690 rupees per 100 kg