Jeera June contract gained Rs 53 and settled at Rs 12420 a kg on bargain buying supported by a decline in supply and firmness in other spices. New crop has been dwindling at the markets as famers are holding back stocks awaiting a rebound in prices while buyers are picking up the spice at the current softer prices. In Unjha, jeera dropped 8 rupees up to end at 12,650 rupees per 100 kg. The contract made intraday low of Rs 12325 a kg and high of Rs 12460 a kg. Support for jeera is at 12343 below that could see a test of 12267. Resistance is now seen at 12478 above that could see a resistance of 12537.

Trading Ideas:

Jeera trading range is 12267-12537.

Jeera ended positive on bargain buying supported by a decline in supply

Support for the jeera is at 12340 and resistance is at 12480.

NCDEX accredited warehouses chana stocks gained 18 tonnes to 8859 tonnes.

In Unjha spot prices dropped 8 rupees to end at 12,650 rupees per 100 kg

BUY JEERA JUNE @ 12250-300 SL 12150 TGT 12380-12465-12570. NCDEX