Jeera October contract dropped Rs 103 and settled at Rs 13030 a kg weighed by tepid overseas enquiries, slack spot demand and hopes of good sowing in the up-coming season due to sufficient soil moisture. Prices in the international market of Syrian origin are being offered at higher rates than Indian origin. Indian origin is being offered at $3,000/tonne and Syrian jeera is being offered at premium at $3,300/tonne. The fresh arrivals of jeera were around 3000 bags against 2500 bags that were reported last day. In Unjha, a key spot market in Gujarat, jeera dropped -86.7 rupees to end at 13216.65 rupees per 100 kg. The contract made intraday low of Rs 12918 a kg and high of Rs 13125 a kg. Support for jeera is at 12924 below that could see a test of 12817. Resistance is now seen at 13131 above that could see a resistance of 13231.

Trading Ideas:

Jeera trading range is 12817-13231.

Jeera ended lower weighed by tepid overseas enquiries and slack spot demand

Jeera is having resistance at 13131 and support at 12924 level.

NCDEX accredited warehouses stocks jeera rose 18 tonnes to 5812 tonnes.

In Unjha, a key spot market in Gujarat, jeera dropped -86.7 rupees to end at 13216.65 rupees per 100 kg.