Jeera January contract gained due to diminishing stocks and some demand in the local market, though weak exports restricted the gains. The arrivals of jeera were around 2,400 bags against 2600 bags that were reported last day. Jeera acreage is more likely to rise in Rajasthan this year, though the state is a distant second in terms of production. In Unjha, a key spot market in Gujarat, jeera gained 8.35 rupees to end at 14208.35 rupees per 100 kg. The contract made intraday low of Rs 14010 a kg and high of Rs 14189 a kg. Support for jeera is at 14027 below that could see a test of 13929. Resistance is now seen at 14206 above that could see a resistance of 14287.

Trading Ideas:

Jeera trading range is 13919-14277.

Jeera ended positive due to diminishing stocks

Jeera is having resistance at 14206 and support at 14027 level.

NCDEX accredited warehouses jeera stocks fell 39 tonnes to 5788 tonnes.

In Unjha, a key spot market in Gujarat, jeera dropped -3.35 rupees to end at 14196.65 rupees per 100 kg.