Jeera April contract gained Rs 57 and settled at Rs 15988 per quintal due to strengthening domestic demand at lower levels. However estimates of lower output and depleting stocks limited the gains. Unseasonal rains and cloudy weather had delayed jeera sowing in India by a fortnight and raised concerns about the yield. Demand is good from traders and stockists, but overseas enquires are still weak. In India, the world's largest producer and exporter, jeera is cultivated mainly in Gujarat and Rajasthan during winter from October to December, and harvested in February-April. The total fresh arrivals of jeera were around 20,000 bags were reported against 25,000 bags on previous day. In Unjha, a key spot market in Gujarat, jeera gained 14 rupees to end at 15921.5 rupees per 100 kg. The contract made intraday low of Rs 15868 a kg and high of Rs 16101 a kg. Support for jeera is at 15870 below that could see a test of 15753. Resistance is now seen at 16103 above that could see a resistance of 16219.

Trading Ideas:

Jeera trading range is 15751-16217.

Jeera gained due to strengthening domestic demand at lower levels

Jeera is having resistance at 16103 and support at 15870 level.

NCDEX accredited warehouses jeera stocks rose by 198 tonnes to 10383 tonnes.

In Unjha, a key spot market in Gujarat, jeera gained 14 rupees to end at 15921.5 rupees per 100 kg.