Jeera July contract dropped Rs 271 and settled at Rs 12730 a kg on profit-booking after prices rose nearly 9 percent in the last eight sessions. Local demand has come down as traders fear a further fall in prices. At Unjha, the benchmark spot market in Gujarat, jeera fell 117 rupees to end at 12,764 rupees per 100 kg. The contract made intraday low of Rs 12650 a kg and high of Rs 12950 a kg. Support for jeera is at 12603 below that could see a test of 12477. Resistance is now seen at 12903 above that could see a resistance of 13077.

Trading Ideas:

Jeera trading range is 12477-13077.

Jeera ended lower on profit-booking after prices rose nearly 9%

Support for the jeera is at 12600 and resistance is at 12900.

NCDEX accredited warehouses jeera stocks dropped 168 tonnes to 6736 tonnes.

SELL JEERA JULY @ 13050-13100 SL 13220 TGT 12950-12840-12760.NCDEX

In Unjha spot prices fell 117 rupees and ended at 12,764 rupees per 100 kg