Jeera July contract dropped Rs 104 and settled at Rs 11900 a kg as hopes of higher output and sluggish export demand weighed on sentiment. Demand is weak in spot as traders are expecting higher output. In Unjha, a key spot market in Gujarat, jeera gained 17 rupees to end at 12,389 rupees per 100 kg. The contract made intraday low of Rs 11877 a kg and high of Rs 12040 a kg. Support for jeera is at 11838 below that could see a test of 11776. Resistance is now seen at 12001 above that could see a resistance of 12102.

Trading Ideas:

Jeera trading range is 11776-12102.

Jeera ended down on hopes of higher output and sluggish export demand

Support for the jeera is at 11820 and resistance is at 12130.

NCDEX accredited warehouses jeera stocks dropped 129 tonnes to 8235 tonnes.

BUY JEERA JULY @ 11850-900 SL 11760 TGT 12000-12140-12270.NCDEX

In Unjha spot prices jumped 17 rupees to end at 12,389 rupees per 100 kg