Jeera December contract dropped Rs 235 and settled at Rs 14290 a kg on a pick-up in arrivals at higher prices and slack demand while clear weather in the main growing regions, raising hopes for fresh sowing, also weighed. During April-October 2010, Jeera exports slumped 36 percent to 20,000 tonnes and value was down nearly 30% to Rs 23,889.13 lakh. There are reports of delayed sowing in major growing belts in Gujarat and lower stocks are available with traders and stockiest amid crop loss in other countries. The total arrivals of jeera were around 4,000 bags against 3000 bags were reported. In Unjha, a key spot market in Gujarat, jeera dropped -76.35 rupees to end at 14313.65 rupees per 100 kg. The contract made intraday low of Rs 14169 a kg and high of Rs 14595 a kg. Support for jeera is at 14108 below that could see a test of 13925. Resistance is now seen at 14534 above that could see a resistance of 14777.

Trading Ideas:

Jeera trading range is 13925-14777.

Jeera ended lower on a pick-up in arrivals at higher prices

Jeera is having resistance at 14500 and support at 14110 level.

NCDEX accredited warehouses jeera stocks rose 3 tonnes to 6217 tonnes.

In Unjha, a key spot market in Gujarat, jeera dropped -76.35 rupees to end at 14313.65 rupees per 100 kg.