Jeera hit fresh contract highs on bargain buying after prices fell nearly 8 percent in the last 7 sessions and on low stocks, a trend which may continue in the next session. Spot rates in Unjha, a key spot market in Gujarat, price gained 146 rupees to end at 12,667 rupees per 100 kg. June contract gained Rs 219 and settled at Rs 13087 a kg. The contract made intraday low of Rs 12831 a kg and high of Rs 13190 a kg. Support for jeera is at 12882 below that could see a test of 12677. Resistance is now seen at 13241 above that could see a resistance of 13395.

Trading Ideas:

Jeera trading range is 12677-13395.

Jeera hit fresh contract highs on bargain buying

Support for the jeera is at 13000 and resistance is at 13220.

NCDEX accredited warehouses jeera stocks rose by 182 tonnes to 7304 tonnes.

In Unjha spot prices gained 146 rupees to end at 12,667 rupees per 100 kg

SELL JEERA JUNE BELOW 13020 SL 13120 TGT 12960-12922-12845.NCDEX