Jeera October contract gained Rs 29 and settled at Rs 13491 a kg on value buying after losing more than 3 percent in as many sessions, supported by lower stocks and poor supplies. Export demand should improve in coming days. Our prices are competitive in the international market. Jeera exports may touch 40,000 tonnes by the end of 2010-11 because the prices are competitive and our competitors have not been able to have good crop. In Unjha, a key spot market in Gujarat, jeera dropped -29.35 rupees to end at 13497.75 rupees per 100 kg. The contract made intraday low of Rs 13312 a kg and high of Rs 13569 a kg. Support for jeera is at 13346 below that could see a test of 13200. Resistance is now seen at 13603 above that could see a resistance of 13714.

Trading Ideas:

Jeera trading range is 13200-13714.

Jeera ended positive on value buying supported by lower stocks and poor supplies

Jeera is having resistance at 13603 and support at 13346 level.

NCDEX accredited warehouses turmeric stocks rose 91 tonnes to 5869 tonnes.

In Unjha, a key spot market in Gujarat, jeera dropped -29.35 rupees to end at 13497.75 rupees per 100 kg.