Jeera November contract gained Rs 218 and settled at Rs 13160 a kg on increased buying by stockiest as well as retailers due to domestic demand. Fall in supplies from producing regions also supported the rise in prices. Lower stocks on one hand and expectation of better crop of jeera in 2010-11 were keeping the prices range bound last week. Jeera stocks currently are projected to be lower at around 10-11 lakh bags as compared to 13-14 lakh bags in the same period previous year. In Unjha, a key spot market in Gujarat, jeera dropped -12.5 rupees to end at 13012.5 rupees per 100 kg. The contract made intraday low of Rs 12930 a kg and high of Rs 13197 a kg. Support for jeera is at 12994 below that could see a test of 12829. Resistance is now seen at 13261 above that could see a resistance of 13363.

Trading Ideas:

Jeera trading range is 12829-13363.

Jeera ended higher on increased buying by stockiest as well as retailers due to domestic demand

Jeera is having resistance at 13260 and support at 13020 level.

Jeera stocks currently are projected to be lower at around 10-11 lakh bags

In Unjha, a key spot market in Gujarat, jeera dropped -12.5 rupees to end at 13012.5 rupees per 100 kg.