Jeera hit lower circuit on pressure from profit-taking and weak physical demand. Sowing of the new season crop which is nearly over also weighed on sentiment. Losses in the coming sessions will be capped by reports of scattered rains in Gujarat, the largest producer, which is expected to lead to buying in the market.

Spot jeera fell by over 134 rupees to end at 14,575 rupees per 100 kg in Unjha. January contract dropped Rs 612 and settled at Rs 14704 a kg. The contract made intraday low of Rs 14704 a kg and high of Rs 15280 a kg. Support for jeera is at 14512 below that could see a test of 14320. Resistance is now seen at 15088 above that could see a resistance of 15472.

Trading Ideas:

JEERA TRADING RANGE IS 14350-15050.

JEERA HIT LOWER CIRCUIT ON PRESSURE FROM PROFIT-TAKING AND WEAK PHYSICAL DEMAND

NOW SUPPORT FOR JEERA WILL BE AT 14580 AND RESISIT IS AT 14830.

SPOT JEERA FELL BY OVER 134 RUPEES TO END AT 14575 RUPEES PER 100 KG

WAIT FOR FRESH ENTRY IMP LEVEL IS AT 14580 LEVEL.