"Jeera settled down -0.78% at 11395 after rain in the main producing state of Gujarat disrupted trading activities in spot markets. In Jodhpur estimated market supply was at 300 quintals, down by 200 quintals as compared to previous day. In Delhi total arrivals are at 8000 quintals, down by 1000 quintals as against previous day. In Mehsana arrivals were reported at 3000 quintals, lower by 4000 quintals as against previous day. In Rajkot sources reported arrivals at 421 quintals, down by 59 quintals from previous trading day. Steady arrivals and limited demand will keep prices steady in the near term. The market sources suggested that heavy stocks of around 65 lakh bags in local mandies will encourage stockiest selling at every spurt in local mandies. The total stocks in local mandies were almost double of the previous year's level of 35 lakh bags due to record production in the current year. However, weak supplies international market will reward Indian exporters in medium term. As per the latest data release by Gujarat Agriculture Board, the total sowing acreage of Jeera in the state has been increased by 1.05 lakh hectares from the last year to reach 4.54 lakh hectares due to favorable weather conditions and strong export demand in local mandies. In Unjha, a key spot market in Gujarat, jeera edged down by -151.55 rupees to end at 11500 rupee per 100 kg. Technically market is under fresh selling as market has witnessed gain in open interest by 6.57% to settled at 4479 while prices down -90 rupee, now Jeera is getting support at 11331 and below same could see a test of 11268 level, And resistance is now likely to be seen at 11476, a move above could see prices testing 11558."

Trading Ideas:

Jeera trading range for the day is 11268-11558.

Jeera ended down after rain in the main producing state of Gujarat disrupted trading activities in spot markets.

The total stocks in local mandies were almost double of the previous year's level of 35 lakh bags due to record production in the current year

NCDEX accredited warehouses jeera stocks dropped by 66 tonnes to 390 tonnes.

In Unjha, a key spot market in Gujarat, jeera edged down by -151.55 rupees to end at 11500 rupee per 100 kg.