Commodity Outlook for Jeera by KediaCommodity
Jeera September contract gained Rs 176 and settled at Rs 13835 a kg on a supply squeeze, poor stocks and some export inquiries. Prices are likely to get some support here due to some inquires from exporters. Domestic demand is also expected to pick up ahead of festivals. Daily arrivals fell to 1,500 bags (of 60 kg each) today against average arrivals of 2,000-3,000 bags. In Unjha, a key spot market in Gujarat, jeera gained 65.05 rupees to end at 13981.25 rupees per 100 kg. The contract made intraday low of Rs 13575 a kg and high of Rs 13901 a kg. Support for jeera is at 13640 below that could see a test of 13444. Resistance is now seen at 13966 above that could see a resistance of 14096.
Jeera trading range is 13444-14096.
Jeera ended higher on a supply squeeze and some export inquiries
Support for the jeera is at 13640 and resistance is at 13965.
NCDEX accredited warehouses jeera stocks fell 1073 tonnes to 5163 tonnes.
In Unjha, a key spot market in Gujarat, jeera gained 65.05 rupees to end at 13981.25 rupees per 100 kg.