Jeera July contract gained Rs 70 and settled at Rs 12806 a kg on squeezed supplies as stockists held back stocks on hopes of better prices later. Prices have risen nearly 10 percent in the 10 sessions ending Thursday. Prices are likely to stay at these levels or higher as stockists are holding stocks. At Unjha, the benchmark spot market in Gujarat, jeera rose 94 rupees to end at 12,859 rupees per 100 kg. The contract made intraday low of Rs 12721 a kg and high of Rs 12890 a kg. Support for jeera is at 12721 below that could see a test of 12637. Resistance is now seen at 12890 above that could see a resistance of 12975.

Trading Ideas:

Jeera trading range is 12637-12975.

Jeera ended positive on squeezed supplies as stockists held back stocks

Support for the jeera is at 12720 and resistance is at 12890.

NCDEX accredited warehouses jeera stocks dropped 33 tonnes to 6703 tonnes.

JEERA IS STUCKED IN THE RANGE A BREAK BELOW 12680 CAN TEST SUPPORT 12350.

In Unjha spot prices rose 76 rupees and ended at 12,840 rupees per 100 kg