Jeera December contract gained Rs 320 and settled at Rs 14755 a kg on fresh demand, lower sowing in key regions due to unseasonal rains and limited supply. As on Nov. 15, farmers in Gujarat have cultivated the spice on 39,000 hectares, against 71,100 hectares during the same period last year. The total arrivals of jeera were around 6,000 bags were reported at Unjha Mandi against 2500 bags from the previous day. The demand was for nearly 12,000 bags. In Unjha, a key spot market in Gujarat, jeera gained 37.15 rupees to end at 13987.15 rupees per 100 kg. The contract made intraday low of Rs 14345 a kg and high of Rs 14800 a kg. Support for jeera is at 14467 below that could see a test of 14178. Resistance is now seen at 14922 above that could see a resistance of 15088.

Trading Ideas:

Jeera trading range is 14178-15088.

Jeera ended higher on fresh demand and lower sowing in key regions

Jeera is having resistance at 14920 and support at 14600 level.

NCDEX accredited warehouses jeera stocks rose 26 tonnes to 6447 tonnes.

In Unjha, a key spot market in Gujarat, jeera gained 37.15 rupees to end at 13987.15 rupees per 100 kg.