Jeera February contract dropped Rs 52 and settled at Rs 14410 a kg due to intense selling pressure. However, there are expectations of increased demand for the commodity in the coming weeks which could prevent the commodity from falling below prevailing levels. 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 dropped -5 rupees to end at 14300 rupees per 100 kg. The contract made intraday low of Rs 14236 a kg and high of Rs 14621 a kg. Support for jeera is at 14224 below that could see a test of 14037. Resistance is now seen at 14609 above that could see a resistance of 14807.

Trading Ideas:

Jeera trading range is 14008-14778.

Jeera continues its weak trend due to intense selling pressure.

Jeera is having resistance at 14609 and support at 14224 level.

The carryover stocks of jeera at major mandies of Gujarat awere reported at 5-6 lakh bags

SELL JEERA JAN @ 14500-550 SL 14720 TGT 14320-14180-14020.NCDEX

In Unjha, a key spot market in Gujarat, jeera dropped -5 rupees to end at 14300 rupees per 100 kg.