Jeera October contract dropped Rs 29 and settled at Rs 13776 a kg due to sluggish local demand and hopes of higher sowing in the up-coming season due to good monsoon rains. Poor supplies, however, restricted the losses.  Local demand is negligible and prices may fall further. In Unjha, a key spot market in Gujarat, jeera dropped -33.35 rupees to end at 13950 rupees per 100 kg. The contract made intraday low of Rs 13680 a kg and high of Rs 13875 a kg. Support for jeera is at 13679 below that could see a test of 13582. Resistance is now seen at 13874 above that could see a resistance of 13972.

Trading Ideas:

Jeera trading range is 13582-13972.

Jeera ended down due to sluggish local demand and hopes of higher sowing

Support for the jeera is at 13680 and resistance is at 13875.

NCDEX accredited warehouses jeera stocks fell 45 tonnes to 5694 tonnes.

In Unjha, a key spot market in Gujarat, jeera dropped -70.85 rupees to end at 13912.5 rupees per 100 kg.