Jeera July contract gained Rs 20 and settled at Rs 11995 a kg on good spot demand and lower stocks but hopes of higher output limited the upside. Daily arrivals have stabilised in the range of 4,000-5,000 bags (60 kg). Production in 2010 is seen rising to 2.9 million bags of 60 kg each from 2.7 million bags in 2009. In Unjha, a key spot market in Gujarat, jeera gained 25 rupees to end at 12,375 rupees per 100 kg. The contract made intraday low of Rs 11925 a kg and high of Rs 12068 a kg. Support for jeera is at 11924 below that could see a test of 11853. Resistance is now seen at 12067 above that could see a resistance of 12139.

Trading Ideas:

Jeera trading range is 11853-12139.
Jeera ended positive on good spot demand and lower stocks
Support for the jeera is at 11925 and resistance is at 12080.
NCDEX accredited warehouses jeera stocks dropped 108 tonnes to 7833 tonnes.
BUY JEERA JULY @ 11900-11930 SL 11780 TGT 12000-12090-12170.NCDEX
In Unjha spot prices gained 25 rupees to end at 12,070 rupees per 100 kg