Jeera ended lower on sluggish overseas demand and hopes of higher output. Weakness in overseas demand is pressurising jeera. Prices may fall further in absence of demand. Spot rates in Unjha, a key spot market in Gujarat, gained 48 rupees to end at 12,663 rupees per 100 kg. June contract dropped Rs 54 and settled at Rs 12388 a kg. The contract made intraday low of Rs 12286 a kg and high of Rs 12610 a kg. Support for jeera is at 12246 below that could see a test of 12104. Resistance is now seen at 12570 above that could see a resistance of 12752.

Trading Ideas:

Jeera trading range is 12104-12752.

Jeera ended lower on sluggish overseas demand and hopes of higher output.

Support for the jeera is at 12250 and resistance is at 12570.

NCDEX accredited warehouses jeera stocks rose by 276 tonnes to 8041 tonnes.

BUY JEERA JUNE ABV 12420 SL 12320 TGT 12470-12540-12600.NCDEX

In Unjha spot prices gained 48 rupees to end at 12,663 rupees per 100 kg