Jeera August contract dropped Rs 264 and settled at Rs 14145 a kg on subdued demand, both local and overseas. Buying is very weak in the spot. Export orders are negligible at these levels. At Unjha spot market, jeera dropped 311 rupees to end at 14,207 rupees per 100 kg. Export demand may gain pace if prices come down by another 200 rupees from current levels. The contract made intraday low of Rs 13951 a kg and high of Rs 14485 a kg. Support for jeera is at 13902 below that could see a test of 13660. Resistance is now seen at 14436 above that could see a resistance of 14728.

Trading Ideas:

Jeera trading range is 13660-14728.

Jeera yesterday ended lower on weak demand

Support for the jeera is at 14000 and resistance is at 14290.

NCDEX accredited warehouses jeera stocks rose by 72 tonnes to 5268 tonnes.

At Unjha, jeera dropped 311 rupees to end at 14,207 rupees per 100 kg