Jeera December contract dropped Rs 235 and settled at Rs 14880 a kg due to weak exports amidst the estimates of higher production. However, reports of delay in sowing which would lead to delayed arrival of the commodity in turn leading to its temporary scarcity, restricted the fall of the commodity to some extent. The total arrivals of Jeera were around 3,000 bags were reported at Unjha Mandi and the estimated demand was 7,000 bags. In Unjha, a key spot market in Gujarat, jeera dropped -93 rupees to end at 14494.15 rupees per 100 kg. The contract made intraday low of Rs 14776 a kg and high of Rs 15248 a kg. Support for jeera is at 14688 below that could see a test of 14496. Resistance is now seen at 15160 above that could see a resistance of 15440.

Trading Ideas:

Jeera trading range is 14486-15430.

Jeera ended lower due to weak exports

Jeera is having resistance at 15000 and support at 14700 level.

NCDEX accredited warehouses jeera stocks fell 60 tonnes to 6382 tonnes.

In Unjha, a key spot market in Gujarat, jeera dropped -93 rupees to end at 14494.15 rupees per 100 kg.