Jeera settled down -0.88% at 11270 due to lack of strong demand amidst rains in Gujarat and Rajasthan. Export are expected to pick up once skies clear up, and that could support the market sentiments. In Delhi market Arrivals were reported at 10000 quintals, up by 2000 quintals as against previous day. At Jodhpur market total arrivals are at 300 quintals, unchanged as compared to previous day's arrival. At Rajkot market estimated market supply was at 850 quintals, up by 410 quintals from previous trading day. At Unjha market in Mehsana total arrivals are at 6000 quintals, higher by 1000 quintals as against previous day. 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 -33.55 rupees to end at 11440 rupee per 100 kg. Technically market is under fresh selling as market has witnessed gain in open interest by 10.63% to settled at 7746 while prices down -100 rupee, now Jeera is getting support at 11211 and below same could see a test of 11153 level, And resistance is now likely to be seen at 11366, a move above could see prices testing 11463.

Trading Ideas:

Jeera trading range for the day is 11153-11463.

Jeera settled down due to lack of strong demand amidst rains in Gujarat and Rajasthan.

Export are expected to pick up once skies clear up, and that could support the market sentiments.

At Unjha market in Mehsana total arrivals are at 6000 quintals, higher by 1000 quintals as against previous day.

In Unjha, a key spot market in Gujarat, jeera edged down by -33.55 rupees to end at 11440 rupee per 100 kg.