Jeera hit new lows and ended weak as higher output estimates, weak physical demand and sufficient stocks weighed on sentiment. The higher output estimates for jeera this season is hurting sentiment and export demand is also poor. Spot jeera fell by over 77 rupees to end at 12,700 rupees per 100 kg in Unjha. February contract dropped Rs 352 and settled at Rs 12060 a kg. The contract made intraday low of Rs 12020 a kg and high of Rs 12410 a kg. Support for jeera is at 11917 below that could see a test of 11773. Resistance is now seen at 12307 above that could see a resistance of 12553.

Trading Ideas:

Jeera trading range is 11800-12300.

Jeera hit new lows and ended weak as higher output estimate

Now support for the jeera is at 11920 and resistance is at 13180.

Demat stock of jeera at NCDEX-monitored warehouses has seen at 5283 tonnes

Spot jeera prices fell by over 77 rupees to end at 12,700 rupees

SELL JEERA FEB BELOW 12000 SL 12122 TGT 11960-11910-11865-11810. NCDEX