Jeera October settled steady as expectations of higher sowing in the up-coming season due to good monsoon rains weighed on sentiment. Trend continues to be weak due to absence of demand. Jeera exports in April-July 2010 fell 19 percent to 13,500 tonnes from the same period a year ago. In Unjha, a key spot market in Gujarat, jeera gained 10.55 rupees to end at 13677.2 rupees per 100 kg. The contract made intraday low of Rs 13325 a kg and high of Rs 13494 a kg. Support for jeera is at 13351 below that could see a test of 13254. Resistance is now seen at 13520 above that could see a resistance of 13592.

Trading Ideas:

Jeera trading range is 13254-13592.

Jeera ended steady as expectations of higher sowing in weighed on sentiment

Support for the jeera is at 13350 and resistance is at 13520.

Spread between Jeera OCT & NOV contracts yesterday traded in the range of 6 to 66.

In Unjha, a key spot market in Gujarat, jeera gained 10.55 rupees to end at 13677.2 rupees per 100 kg.