Jeera recovered from their contract lows in the last session as marginal short-covering outweighed estimates of higher production, weak physical demand and ample stocks. Jeera exports in November 2009 dipped to 4,000 tonnes from 4,500 tonnes in the same period a year ago.

Spot jeera ended at 12,989 rupees lower by 295 rupees per 100 kg in Unjha. January contract dropped Rs 212 and settled at Rs 12400 a kg. The contract made intraday low of Rs 12253 a kg and high of Rs 12640 a kg. Support for jeera is at 12222 below that could see a test of 12044. Resistance is now seen at 12609 above that could see a resistance of 12818.

Trading Ideas:

Jeera trading range is 12150-12700.

Jeera recovered from contract lows on marginal short-covering

Now support for the jeera is at 12320 and resistance is at 12510.

Jeera exports in November 2009 dipped to 4,000 tonnes from 4,500 tonnes

Spot jeera prices ended at 12,989 rupees lower by 295 rupees per 100 kg

SELL JEERA FEB @ 12450 SL 12520 TGT 12400-12365-12300-12248.NCDEX