Jeera November contract dropped Rs 45 and settled at Rs 13111 a kg as support from domestic demand was offset by expectation of an increase in output as acreage has risen this season. Jeera exports in April-August 2010 fell 23 percent to 15,500 tonnes from the same period a year ago. The total arrivals of around 1500 bags were reported at Unjha Mandi against 1200 bags from the previous day. In Unjha, a key spot market in Gujarat, jeera gained 112.5 rupees to end at 13125 rupees per 100 kg. The contract made intraday low of Rs 13071 a kg and high of Rs 13227 a kg. Support for jeera is at 13046 below that could see a test of 12980. Resistance is now seen at 13202 above that could see a resistance of 13292.

Trading Ideas:

Jeera trading range is 12980-13292.

Jeera ended weak on expectation of an increase in output

Jeera is having resistance at 13202 and support at 13046 level.

NCDEX accredited warehouses jeera stocks rose 54 tonnes to 6615 tonnes.

In Unjha, a key spot market in Gujarat, jeera gained 112.5 rupees to end at 13125 rupees per 100 kg.