Jeera February contract gained Rs 328 and settled at Rs 15070 a kg as some lower level buying emerged amidst tight supplies and diminishing stocks in the market. The jeera earlier traded lower due to profit taking and sluggish export demand, which weighed down on domestic sentiment. The jeera exports declined by 36% to 22,500 tonnes during the period April to November 2010 against from 35,300 tonnes same period last year. In Unjha, a key spot market in Gujarat, jeera gained 38.25 rupees to end at 14359.1 rupees per 100 kg. The contract made intraday low of Rs 14625 a kg and high of Rs 15200 a kg. Support for jeera is at 14730 below that could see a test of 14390. Resistance is now seen at 15305 above that could see a resistance of 15540.

Trading Ideas:

Jeera trading range is 14396-15546.

Jeera gained as some lower level buying emerged amidst tight supplies.

Jeera is having resistance at 15305 and support at 14730 level.

NCDEX accredited warehouses jeera stocks rose 18 tonnes to 5670 tonnes.

BUY JEERA JAN @ 14780 SL 14560 TGT 14900-15060-15180.NCDEX

In Unjha, a key spot market in Gujarat, jeera gained 38.25 rupees to end at 14359.1 rupees per 100 kg.