Jeera March contract dropped Rs 497 and settled at Rs 15960 a kg on profit booking and weak exports weighed on sentiment. Supply from the fresh crop is almost negligible during the peak arrival season because of delayed sowing. Domestic demand is very good because the coming crop is estimated to be lower. Unseasonal rains and cloudy weather had delayed jeera sowing in India by a fortnight. In Unjha, a key spot market in Gujarat, jeera gained 306.35 rupees to end at 15661.35 rupees per 100 kg. The contract made intraday low of Rs 15841 a kg and high of Rs 16700 a kg. Support for jeera is at 15634 below that could see a test of 15308. Resistance is now seen at 16493 above that could see a resistance of 17026.

Trading Ideas:

Jeera trading range is 15294-17012.

Jeera dropped on profit booking and weak exports weighed on sentiment.

Jeera is having resistance at 16100 and support at 15780 level.

NCDEX accredited warehouses jeera stocks rose 198 tonnes to 7431 tonnes.

In Unjha, a key spot market in Gujarat, jeera gained 306.35 rupees to end at 15661.35 rupees per 100 kg.