Jeera snapped a eight-day losing streak on bargain-buying triggered by a more-than 6 percent loss in eight sessions. Production in 2010 is seen rising to 2.9 million bags of 60 kg each from 2.7 million bags in 2009. Spot rates in Unjha, a key spot market in Gujarat, dropped 18 rupees to end at 12,518 rupees per 100 kg. June contract gained Rs 60 and settled at Rs 12083 a kg. The contract made intraday low of Rs 11953 a kg and high of Rs 12110 a kg. Support for jeera is at 11987 below that could see a test of 11892. Resistance is now seen at 12144 above that could see a resistance of 12206.

Trading Ideas:

Jeera trading range is 11892-12206.

Jeera snapped a eight-day losing streak on bargain-buying

Support for the jeera is at 11960 and resistance is at 12220.

NCDEX accredited warehouses jeera stocks rose by 78 tonnes to 8692 tonnes.

In Unjha spot prices fell 18 rupees to end at 12,517 rupees per 100 kg

BUY JEERA JUNE @ 12000-12040 SL 11920 TGT 12140-12200-12340.NCDEX