Jeera October contract dropped Rs 29 and settled at Rs 13965 a kg as poor stocks and a decline in arrivals outweighed profit-taking. It was a technical correction after the recent rise in prices. But prices should not fall much because domestic demand is improving gradually and may support prices. In Unjha, a key spot market in Gujarat, jeera gained 75.9 rupees to end at 14057.15 rupees per 100 kg. The contract made intraday low of Rs 13880 a kg and high of Rs 14178 a kg. Support for jeera is at 13837 below that could see a test of 13710. Resistance is now seen at 14135 above that could see a resistance of 14306.

Trading Ideas:

Jeera trading range is 13713-14309.

Jeera ended weak yesterday on profit-taking

Support for the jeera is at 13830 and resistance is at 14135.

NCDEX accredited warehouses jeera stocks rose 141 tonnes to 5304 tonnes.

In Unjha, a key spot market in Gujarat, jeera gained 75.9 rupees to end at 14057.15 rupees per 100 kg.