Jeera August contract dropped Rs 341 and settled at Rs 13480 a kg on lack of supplies as stockists held back sales in anticipation of higher prices. Traders want better price for their produce. However, weak export demand capped the upside. In Unjha spot prices gained 165 rupees and settled at 13165 rupees per 100 kg. The contract made intraday low of Rs 13130 a kg and high of Rs 13496 a kg. Support for jeera is at 13241 below that could see a test of 13003. Resistance is now seen at 13607 above that could see a resistance of 13735.

Trading Ideas:

Jeera trading range is 13003-13735.

Jeera ended higher on lack of supplies as stockists held back sales

Support for the jeera is at 13020 and resistance is at 13260.

NCDEX accredited warehouses turmeric stocks fell by 33 tonnes to 6396 tonnes.

SELL JEERA AUG BELOW 13340 SL 13460 TGT 13270-13210-13150.NCDEX

In Unjha spot prices gained 165 rupees and settled at 13165 rupees per 100 kg.