Jeera ended weak as increased arrivals were noted amidst moderate demand. There are expectations of exports increasing in coming weeks but arrivals of the new crop are pressurizing prices. Trend likely to remain volatile in the coming days depending on the arrival and demand figures in mandis. Strengthening of Dollar vs Re can support the export demand that traders expect will rise in coming weeks. March contract dropped Rs 71 and settled at Rs 11560 a kg. The contract made intraday low of Rs 11540 a kg and high of Rs 11725 a kg. Support for jeera is at 11492 below that could see a test of 11423. Resistance is now seen at 11677 above that could see a resistance of 11793.

Trading Ideas:

Jeera trading range is 11423-11793.

Jeera ended weak as increased arrivals were noted amidst moderate demand

Strengthening of Dollar vs Re can support the export demand

NCDEX accredited warehouses jeera stocks seen at 4894 tonnes as on Feb 20.

SELL JEERA MAR @ 11560-580 SL 11625 TGT 11534-11502-11462.NCDEX