Jeera July contract gained Rs 222 and settled at Rs 12848 a kg on squeezed supplies in the physical market towards the end of the season and dwindling stocks. Technical trend is firm and prices may gain further in the short term. Arrivals have declined significantly in spot. At Unjha spot market, jeera gained 104 rupees to 12,657 rupees per 100 kg. The contract made intraday low of Rs 12565 a kg and high of Rs 12877 a kg. Support for jeera is at 12650 below that could see a test of 12451. Resistance is now seen at 12962 above that could see a resistance of 13075.

Trading Ideas:

Jeera trading range is 12446-13070.

Jeera ended positive on squeezed supplies the physical market towards end of season

Support for the jeera is at 12650 and resistance is at 12960.

NCDEX accredited warehouses jeera stocks dropped 201 tonnes to 7106 tonnes.

BUY JEERA JULY @ 12600 SL 12500 TGT 12680-12750-12820.NCDEX

In Unjha spot prices gained 104 rupees and ended at 12,657 rupees per 100 kg