Jeera October contract dropped Rs 157 and settled at Rs 13752 a kg on profit-taking after prices rose more than 4 percent in as many sessions. Hopes of overseas demand, as Syria is quoting at a premium, may prompt bargain-buying. Jeera exports may touch 40,000 tonnes by the end of 2010-11 because the prices are competitive and our competitors have not been able to have good crop.. In Unjha, a key spot market in Gujarat, jeera dropped -137.5 rupees to end at 13662.5 rupees per 100 kg. The contract made intraday low of Rs 13656 a kg and high of Rs 13934 a kg. Support for jeera is at 13627 below that could see a test of 13503. Resistance is now seen at 13905 above that could see a resistance of 14059.

Trading Ideas:

Jeera trading range is 13503-14059.

Jeera ended weak yesterday on profit-taking

Jeera is having resistance at 13905 and support at 13627 level.

Jeera exports fell 23 percent to 15,500 tonnes in Apr-Aug.

In Unjha, a key spot market in Gujarat, jeera dropped -137.5 rupees to end at 13662.5 rupees per 100 kg.