Jeera hit their upper circuit on low-level buying, offsetting pressure from fresh arrivals and sluggish exports. Traders are hopeful of overseas enquiries at current levels. Demand usually picks up by March end. Spot rates in Unjha, a key spot market in Gujarat, softened 38.5 rupees to end at 11,637.50 rupees per 100 kg. April contract gained Rs 462 and settled at Rs 11999 a kg. The contract made intraday low of Rs 11521 a kg and high of Rs 11999 a kg. Support for jeera is at 11680 below that could see a test of 11362. Resistance is now seen at 12158 above that could see a resistance of 12318.

Trading Ideas:

Jeera trading range is 11362-12318.

Jeera hit their upper circuit on low-level buying offsetting pressure from fresh arrivals

Jeera looks to take support at 12130 and resistance at 11870 level

NCDEX accredited warehouses jeera stocks rose by 267 tonnes to 5492 tonnes.

Spot rates in Unjha prices softened 38.5 rupees to end at 11,637.50 rupees per 100 kg

SELL JEERA APR BELOW 12020 SL 12120 TGT 11945-11890-11840..NCDEX