Jeera July contract dropped Rs 11 and settled at Rs 11970 a kg on view of higher output and weak overseas demand. Domestic production is also expected to be higher this year. In Unjha, a key spot market in Gujarat, jeera fell 13 rupees to end at 12,340 rupees per 100 kg. The contract made intraday low of Rs 11875 a kg and high of Rs 12044 a kg. Support for jeera is at 11882 below that could see a test of 11794. Resistance is now seen at 12051 above that could see a resistance of 12132.

Trading Ideas:

Jeera trading range is 11786-12124.

Jeera ended weak on view of higher output and weak overseas demand

Support for the jeera is at 11880 and resistance is at 12050.

NCDEX accredited warehouses jeera stocks dropped 40 tonnes to 7664 tonnes.

BUY JEERA JULY @ 11800-840 SL 11730 TGT 11915-11970-12050.NCDEX

In Unjha spot prices fell 13 rupees and ended at 12,340 rupees per 100 kg