Jeera November contract dropped Rs 115 and settled at Rs 13080 a kg due to sluggish export demand and hopes of a rise in acreage in the up-coming sowing season. Export demand is not encouraging. But any improvement in export demand may push the prices up. The total arrivals of jeera were around 1100 bags were reported at Unjha Mandi against 1000 bags from the previous day. In Unjha, a key spot market in Gujarat, jeera gained 45.85 rupees to end at 13162.5 rupees per 100 kg. The contract made intraday low of Rs 12970 a kg and high of Rs 13315 a kg. Support for jeera is at 12928 below that could see a test of 12777. Resistance is now seen at 13273 above that could see a resistance of 13467.

Trading Ideas:

Jeera trading range is 12777-13467.

Jeera ended lower due to sluggish export demand and hopes of a rise in acreage

Jeera is having resistance at 13273 and support at 12928 level.

NCDEX accredited warehouses jeera stocks rose 114 tonnes to 6298 tonnes.

In Unjha, a key spot market in Gujarat, jeera gained 45.85 rupees to end at 13162.5 rupees per 100 kg.