Jeera December contract gained Rs 566 and settled at Rs 14704 a kg due to dwindling supply. Further the sentiment for the commodity is bullish as rains in Saurashtra and other growing areas in Gujarat have reportedly hampered the sowing process leading to a delayed sowing. There are lower stocks of jeera till fresh arrivals expected in the month of February. This will help prices to find support and strengthen. Spillover strength from other spices also added bullish trend in jeera counter. In Unjha, a key spot market in Gujarat, jeera gained 360.6 rupees to end at 14020.6 rupees per 100 kg. The contract made intraday low of Rs 14199 a kg and high of Rs 14704 a kg. Support for jeera is at 14367 below that could see a test of 14031. Resistance is now seen at 14872 above that could see a resistance of 15041.

Trading Ideas:

Jeera trading range is 14028-15038.

Jeera ended higher due to dwindling supply

Jeera is having resistance at 14870 and support at 13520 level.

NCDEX accredited warehouses jeera stocks rose 24 tonnes to 6355 tonnes.

In Unjha, a key spot market in Gujarat, jeera gained 360.6 rupees to end at 14020.6 rupees per 100 kg.