Jeera February contract gained Rs 282 and settled at Rs 14730 a kg due to lower-level buying triggered by reduced level of stocks and slack supplies, although a rise in acreage weighed on sentiment. Reversing the declining trend, area under jeera cultivation in the top producing Gujarat rose marginally as on Jan. 10 due to conducive weather conditions. As on Jan. 10, the acreage stood at 244,600 hectares, marginally higher than 242,700 hectares sowed a year ago. In Unjha, a key spot market in Gujarat, jeera gained 20.85 rupees to end at 14320.85 rupees per 100 kg. The contract made intraday low of Rs 14435 a kg and high of Rs 14838 a kg. Support for jeera is at 14497 below that could see a test of 14265. Resistance is now seen at 14900 above that could see a resistance of 15071.

Trading Ideas:

Jeera trading range is 14269-15075.

Jeera gained due to lower-level buying triggered by reduced level of stocks

Jeera is having resistance at 14900 and support at 14497 level.

NCDEX accredited warehouses jeera stocks rose 75 tonnes to 5652 tonnes.

In Unjha, a key spot market in Gujarat, jeera gained 20.85 rupees to end at 14320.85 rupees per 100 kg.