Jeera March contract gained Rs 83 and settled at Rs 15221 a kg on a squeeze in supplies due to lower stocks and also owing to a delay in fresh arrivals. Unseasonal rains and cloudy weather had delayed jeera sowing in India by a fortnight. Daily arrivals are in the range of 3,000-3,500 bags (of 55 kgs each) at Unjha market. Jeera prices are getting support at lower levels due to absence of arrival pressure.

The carryover stocks of jeera at major mandies of Gujarat and Rajasthan were reported at 5-6 lakh bags against 8-9 lakh bags reported last year in the same period. In Unjha, a key spot market in Gujarat, jeera gained 25 rupees to end at 14750 rupees per 100 kg. The contract made intraday low of Rs 15103 a kg and high of Rs 15290 a kg. Support for jeera is at 15119 below that could see a test of 15018. Resistance is now seen at 15306 above that could see a resistance of 15392.

Trading Ideas: Jeera trading range is 15018-15392. Jeera gained on a squeeze in supplies due to lower stocks Jeera is having resistance at 15360 and support at 15080 level. NCDEX accredited warehouses jeera stocks rose
197 tonnes to 6677 tonnes. In Unjha, a key spot market in Gujarat, jeera gained 25 rupees to end at 14750 rupees per 100 kg.