Jeera September contract dropped Rs 14 and settled at Rs 14175 a kg tailing weakness in the spot market and tepid overseas demand. Traders are covering long positions at every rise due to weakness in overseas demand. Bearish cues from other spices also weighed on sentiment. At Unjha, the benchmark spot market in Gujarat, jeera slipped 53 rupees to end at 14,108 rupees per 100 kg. The contract made intraday low of Rs 14046 a kg and high of Rs 14335 a kg. Support for jeera is at 14036 below that could see a test of 13896. Resistance is now seen at 14325 above that could see a resistance of 14474.

Trading Ideas:

Jeera trading range is 13896-14474.

Jeera ended weak tailing weakness in the spot market

Support for the jeera is at 14035 and resistance is at 14325.

NCDEX accredited warehouses jeera stocks remained at 4976 tonnes.

At Unjha, jeera fell 53 rupees to end at 14,108 rupees per 100 kg