Jeera November contract dropped Rs 68 and settled at Rs 12982 a kg on weak exports and expectations of a rise in acreage in the up-coming sowing season, though poor supplies and diminishing stocks limited losses.  Exporters have held back their buying in anticipation of further fall in prices. Domestic demand has also dried up. In India, jeera is cultivated during winter from October to December, and harvested in February-April. In Unjha, a key spot market in Gujarat, jeera dropped -67.3 rupees to end at 13104.15 rupees per 100 kg. The contract made intraday low of Rs 12920 a kg and high of Rs 13038 a kg. Support for jeera is at 12922 below that could see a test of 12862. Resistance is now seen at 13040 above that could see a resistance of 13098.

Trading Ideas:

Jeera trading range is 12862-13098.

Jeera ended down on weak exports and expectations of a rise in acreage

Jeera is having resistance at 13040 and support at 12922 level.

NCDEX accredited warehouses jeera stocks fell 51 tonnes to 6348 tonnes.

In Unjha, a key spot market in Gujarat, jeera dropped -67.3 rupees to end at 13104.15 rupees per 100 kg.