Jeera December contract dropped Rs 18 and settled at Rs 14356 a kg due to weak export demand. Further, even hopes of abundant supply of the commodity in the near term future is weighing on the sentiment. As dry weather in Gujarat is supporting sowing of jeera which was hit by unseasonal rains earlier this month. The arrivals of jeera were around 3000 bags against 4000 bags that were reported last day. In Unjha, a key spot market in Gujarat, jeera dropped -97.15 rupees to end at 14410 rupees per 100 kg. The contract made intraday low of Rs 14210 a kg and high of Rs 14435 a kg. Support for jeera is at 14232 below that could see a test of 14109. Resistance is now seen at 14457 above that could see a resistance of 14559.

Trading Ideas:

Jeera trading range is 14107-14557.

Jeera ended weak due to weak export demand

Jeera is having resistance at 14458 and support at 14230 level.

NCDEX accredited warehouses jeera stocks rose 246 tonnes to 5000 tonnes.

In Unjha, a key spot market in Gujarat, jeera dropped -97.15 rupees to end at 14410 rupees per 100 kg.