Jeera fell for a sixth day to reach a new contract low on fresh arrivals, slack overseas demand and hopes of higher output. Prices are likely to fall further. Arrivals may improve further once market reopens after a long break. Unjha market is shut till March 31st on account of financial year ending. April contract dropped Rs 116 and settled at Rs 11368 a kg. The contract made intraday low of Rs 11265 a kg and high of Rs 11544 a kg. Support for jeera is at 11241 below that could see a test of 11113. Resistance is now seen at 11520 above that could see a resistance of 11671.

Trading Ideas:

Jeera trading range is 11113-11671.

Jeera fell to reach a new contract low on fresh arrivals and hopes of higher output.

Jeera looks to take support at 11240 and resistance at 11520 level

NCDEX accredited warehouses jeera stocks fell by 4 tonnes to 6479 tonnes.

Spread between Jeera APR & MAY contracts yesterday ended at 311.00.

SELL JEERA APR @ 11450-500 SL 11600 TGT 11380-11300-11250.NCDEX