Jeera November contract dropped Rs 180 and settled at Rs 12885 a kg weighed by expectations of rising acreage in the up-coming sowing season. However, lack of supplies and dwindling supplies kept the downside restricted. The higher acreage and production is weighing on prices. The total arrivals of around 1000 bags were reported at Unjha Mandi against 1200 bags from the previous day. In Unjha, a key spot market in Gujarat, jeera dropped -33.3 rupees to end at 13083.35 rupees per 100 kg. The contract made intraday low of Rs 12771 a kg and high of Rs 13080 a kg. Support for jeera is at 12744 below that could see a test of 12603. Resistance is now seen at 13053 above that could see a resistance of 13221.

Trading Ideas:

Jeera trading range is 12603-13221.

Jeera ended down weighed by expectations of rising acreage

Jeera is having resistance at 13053 and support at 12744 level.

NCDEX accredited warehouses jeera stocks rose 96 tonnes to 6555 tonnes.

In Unjha, a key spot market in Gujarat, jeera dropped -96.65 rupees to end at 13020 rupees per 100 kg.