Jeera September contract dropped Rs 388 and settled at Rs 14720 a kg as traders sold to lock in profits after a 4 percent gain in the last two sessions. Export demand is very weak and is likely to continue weak. Overseas buyers are not placing orders as they are waiting for a further fall in the prices. In Unjha, a key spot market in Gujarat, jeera gained 189.5 rupees to end at 14483.5 rupees per 100 kg. The contract made intraday low of Rs 14615 a kg and high of Rs 15200 a kg. Support for jeera is at 14490 below that could see a test of 14260. Resistance is now seen at 15075 above that could see a resistance of 15430.

Trading Ideas:

Jeera trading range is 14265-15435.

Jeera ended lower on profit booking and weak export demand

Support for the jeera is at 14600 and resistance is at 14850.

NCDEX accredited warehouses jeera stocks rose by 144 tonnes to 5974 tonnes.

In Unjha, a key spot market in Gujarat, jeera gained 189.5 rupees to end at 14483.5 rupees per 100 kg.