Jeera November contract gained Rs 16 and settled at Rs 12862 a kg on short covering after prices fell in last few sessions on slack domestic demand and hopes of higher sowing due to sufficient moisture in the soil. Sowing of jeera has started in some pockets of Gujarat. Area under jeera is likely to be higher as soil moisture is very good. Area under jeera is expected to increase this year as farmers have seen very good prices. The total arrivals of jeera were around 2500 bags were reported at Unjha Mandi against 1500 bags from the previous day. In Unjha, a key spot market in Gujarat, jeera dropped -41.65 rupees to end at 13000 rupees per 100 kg. The contract made intraday low of Rs 12797 a kg and high of Rs 12935 a kg. Support for jeera is at 12794 below that could see a test of 12727. Resistance is now seen at 12932 above that could see a resistance of 13003.

Trading Ideas:

Jeera trading range is 12727-13003.

Jeera ended firm on short covering after prices fell in last few sessions

Jeera is having resistance at 12932 and support at 12794 level.

NCDEX accredited warehouses jeera stocks rose 96 tonnes to 6774 tonnes.

In Unjha, a key spot market in Gujarat, jeera dropped -41.65 rupees to end at 13000 rupees per 100 kg.