Jeera settled up 0.31% at 11185 due to the return of buying interest at low levels. Moreover, fall in supplies from producing belts against fresh buying by retailers and stockiest also supported the uptrend. India's jeera exports has crossed 50,000 tonnes in the first four months of 2014-15, a rise of 15 per cent from the corresponding period of the previous year, industry sources said. While, country's total jeera exports in 2013-14 (Apr-Mar) rose by 42 per cent to 121,500 tonnes from 85,602 tonnes in 2012-13. Industry sources said export of Jeera from April to July this year would exceed 51,000 tonnes as against 44,000 tonnes in same period of 2013. Also, there has been good demand from western countries which have ignored to buy jeera from Syria and Iran owing to geo-political tension. Despite strong export demand from other countries, price of jeera has more or less remained stable because of high production. At Unjha market in Mehsana arrivals were reported at 8000 quintals, up by 2000 quintals from previous day’s arrivals. At Rajkot market sources reported arrivals at 730 quintals, down by 115 quintals as against previous day. At Jodhpur market sources reported arrivals at 200 quintals, down by 100 quintals from previous day’s arrivals. In Unjha, a key spot market in Gujarat, jeera edged up by 66.35 rupees to end at 11233 rupee per 100 kg. Technically market is under short covering as market has witnessed drop in open interest by -6.63% to settled at 6966 while prices up 35 rupee, now Jeera is getting support at 11126 and below same could see a test of 11068 level, And resistance is now likely to be seen at 11236, a move above could see prices testing 11288.

Trading Ideas:

Jeera trading range for the day is 11068-11288.

Jeera ended with gains due to the return of buying interest at low levels.

Moreover, fall in supplies from producing belts against fresh buying by retailers and stockiest also supported the uptrend.

India's jeera exports has crossed 50,000 tonnes in the first four months of 2014-15, a rise of 15 per cent from the corresponding period of the previous year.

In Unjha, a key spot market in Gujarat, jeera edged up by 66.35 rupees to end at 11233 rupee per 100 kg.