Jeera retreated from a contract high hit during intra-day trade as some profit booking emerged after a 3-day rally, rising more than 7 percent. Estimates of higher output and weak overseas demand also weighed on sentiment. Spot rates in Unjha, a key spot market in Gujarat, price gained 43 rupees to end at 11,980 rupees per 100 kg. May contract dropped Rs 154 and settled at Rs 12419 a kg. The contract made intraday low of Rs 12322 a kg and high of Rs 12725 a kg. Support for jeera is at 12252 below that could see a test of 12086. Resistance is now seen at 12655 above that could see a resistance of 12892.

Trading Ideas:

Jeera trading range is 12086-12892.

Jeera retreated from a contract high as some profit booking emerged

Support for the jeera is at 12280 and resistance is at 12540.

NCDEX accredited warehouses jeera stocks rose by 350 tonnes to 7023 tonnes.

In Unjha spot prices gained 43 rupees to end at 12229 rupees per 100 kg.

BUY JEERA MAY ABV 12450 SL 12340 TGT 12520-12600.NCDEX