Jeera November contract gained Rs 41 and settled at Rs 13035 a kg as a supply squeeze and dwindling stocks saw buying though weakening export demand and expectations of a rise in acreage in the up-coming sowing season. At Unjha, arrivals were around 3,000 bags against the average daily trade of 4,000-5,000 bags. Jeera exports in April-August 2010 fell 23 percent to 15,500 tonnes from the same period a year ago. In Unjha, a key spot market in Gujarat, jeera gained 12.5 rupees to end at 13116.65 rupees per 100 kg. The contract made intraday low of Rs 12955 a kg and high of Rs 13130 a kg. Support for jeera is at 12950 below that could see a test of 12865. Resistance is now seen at 13125 above that could see a resistance of 13215.

Trading Ideas:

Jeera trading range is 12865-13215.

Jeera ended positive on supply squeeze and dwindling stocks

Jeera is having resistance at 13125 and support at 12950 level.

NCDEX accredited warehouses jeera stocks rose 111 tonnes to 6459 tonnes.

In Unjha, a key spot market in Gujarat, jeera gained 12.5 rupees to end at 13116.65 rupees per 100 kg.