Jeera January contract dropped Rs 74 and settled at Rs 13989 a kg due to pick-up in sowing and weak exports. But the prices were supported by poor supplies and dwindling stocks which limited the fall of prices. Fresh jeera crop is being sown in some regions of Gujarat and Rajasthan due to clear weather and will continue through December. However, jeera acreage is more likely to rise in Rajasthan this year, though the state is a distant second in terms of production. The arrivals of jeera were around 2600 bags against 2000 bags that were reported last day at Unjha Mandi. In Unjha, a key spot market in Gujarat, jeera gained 41.65 rupees to end at 14200 rupees per 100 kg. The contract made intraday low of Rs 13925 a kg and high of Rs 14112 a kg. Support for jeera is at 13905 below that could see a test of 13822. Resistance is now seen at 14092 above that could see a resistance of 14196.

Trading Ideas:

Jeera trading range is 13822-14196.

Jeera ended down due to pick-up in sowing and weak exports

Jeera is having resistance at 14090 and support at 13905 level.

NCDEX accredited warehouses jeera stocks rose 45 tonnes to 5827 tonnes.

In Unjha, a key spot market in Gujarat, jeera dropped 0 rupees to end at 14200 rupees per 100 kg.