Jeera August contract dropped Rs 87 and settled at Rs 12740 a kg weighed by continued profit-taking and weak export demand. Supplies are being squeezed as stockists are holding back stocks on hopes of better prices later. Export demand is not that strong and traders are forced to hold back stocks as it is a lean season. The contract made intraday low of Rs 12718 a kg and high of Rs 12830 a kg. Support for jeera is at 12695 below that could see a test of 12651. Resistance is now seen at 12807 above that could see a resistance of 12875.

Trading Ideas:

Jeera trading range is 12651-12875.

Jeera ended weak weighed by continued profit-taking and weak export demand

Supplies are being squeezed as stockists are holding back stocks

Support for the jeera is at 12695 and resistance is at 12810.

SELL JEERA AUG @ 12750-800 SL 12940 TGT 12650-12540-12470.NCDEX

NCDEX accredited warehouses jeera stocks fell 198 tonnes to 6315 tonnes.