Jeera September contract gained Rs 247 and settled at Rs 14651 a kg on the back of strong demand in the spot market amid restricted supply. Fresh arrivals in the market fell as farmers held on to their produce on expectations of better price in coming days. Arrivals have come down in spot. Daily supplies were around 1,000-2,000 bags (60 kg) against the total trade of 5,000 bags. At Unjha, the benchmark spot market in Gujarat, jeera gained 158 rupees to end at 14,220 rupees per 100 kg. The contract made intraday low of Rs 14475 a kg and high of Rs 14824 a kg. Support for jeera is at 14476 below that could see a test of 14301. Resistance is now seen at 14825 above that could see a resistance of 14999.

Trading Ideas:

Jeera trading range is 14300-14998.

Jeera ended higher on the back of strong demand in the spot market

Support for the jeera is at 14475 and resistance is at 14825.

NCDEX accredited warehouses jeera stocks rose by 114 tonnes to 5538 tonnes.

At Unjha, jeera jumped 158 rupees to end at 14,220 rupees per 100 kg