Jeera October contract dropped Rs 292 and settled at Rs 13476 a kg on hopes of higher sowing in the up-coming season as soil moisture is good and a drop in local demand at higher prices. Jeera exports in April-August 2010 fell 23 percent to 15,500 tonnes from the same period a year ago. Jeera arrivals stand at 2500 bags in the Unjha Mandi, slightly lower than the 3000 bags from the previous day. In India, jeera is cultivated during winter from October to December, and harvested during February-April. In Unjha, a key spot market in Gujarat, jeera dropped -43.05 rupees to end at 13619.45 rupees per 100 kg. The contract made intraday low of Rs 13424 a kg and high of Rs 13750 a kg. Support for jeera is at 13350 below that could see a test of 13224. Resistance is now seen at 13676 above that could see a resistance of 13876.

Trading Ideas:

Jeera trading range is 13224-13876.

Jeera ended lower on hopes of higher sowing in the up-coming season

Jeera is having resistance at 13676 and support at 13350 level.

Jeera arrivals stand at 2500 bags in Unjha, slightly lower than 3000 bags from previous day

In Unjha, a key spot market in Gujarat, jeera dropped -43.05 rupees to end at 13619.45 rupees per 100 kg.