Jeera December contract dropped Rs 281 and settled at Rs 14310 a kg due to subdued export demand, however diminishing stocks and lower sowing due to the unseasonal rains earlier in November may support the rates of the commodity. By the mid of November farmers in Gujarat had cultivated the spice in just 39,000 hectares, against 71,100 hectares during the same period last year. The total arrivals of around 4000 bags were reported at Unjha Mandi against 2500 bags from the previous day. In Unjha, a key spot market in Gujarat, jeera dropped -14.3 rupees to end at 14507.15 rupees per 100 kg. The contract made intraday low of Rs 14300 a kg and high of Rs 14640 a kg. Support for jeera is at 14193 below that could see a test of 14077. Resistance is now seen at 14533 above that could see a resistance of 14757.

Trading Ideas:

Jeera trading range is 14098-14778.

Jeera ended lower due to subdued export demand

Jeera is having resistance at 14530 and support at 14190 level.

NCDEX accredited warehouses jeera stocks fell 87 tonnes to 5563 tonnes.

In Unjha, a key spot market in Gujarat, jeera dropped -14.3 rupees to end at 14507.15 rupees per 100 kg.