Jeera September contract dropped Rs 57 and settled at Rs 14384 a kg on sluggish inquiries from overseas offsetting dwindling stocks and a drop in arrivals. Absence of export demand is putting pressure on prices. Any trigger from the overseas market could push the prices up. At Unjha, the benchmark spot market in Gujarat, jeera slipped 8 rupees to end at 14,219 rupees per 100 kg. The contract made intraday low of Rs 14266 a kg and high of Rs 14600 a kg. Support for jeera is at 14233 below that could see a test of 14083. Resistance is now seen at 14567 above that could see a resistance of 14751.

Trading Ideas:

Jeera trading range is 14083-14751.

Jeera yesterday ended down on sluggish inquiries from overseas offsetting dwindling stocks

Support for the jeera is at 14230 and resistance is at 14560.

NCDEX accredited warehouses jeera stocks rose by 183 tonnes to 5554 tonnes.

At Unjha, jeera rose 20 rupees to end at 14,219 rupees per 100 kg