Jeera December contract gained Rs 563 and settled at Rs 14621 a kg on short covering amid lower stocks and hopes of strong demand in near term. The supply of the commodity is expected to be tight in the near future till fresh stock arrive in the mandis, which is not expected before the month of February. The total arrivals of jeera were lower at 2,000 bags against 5,500 bags demand reported. In Unjha, a key spot market in Gujarat, jeera gained 38.6 rupees to end at 14371.45 rupees per 100 kg. The contract made intraday low of Rs 14020 a kg and high of Rs 14621 a kg. Support for jeera is at 14220 below that could see a test of 13820. Resistance is now seen at 14821 above that could see a resistance of 15022.

Trading Ideas:

Jeera trading range is 13812-15014.

Jeera ended lower on short covering amid lower stocks

Jeera is having resistance at 14760 and support at 14440 level.

NCDEX accredited warehouses jeera stocks fell 679 tonnes to 5630 tonnes.

In Unjha, a key spot market in Gujarat, jeera gained 38.6 rupees to end at 14371.45 rupees per 100 kg.