Jeera November contract gained Rs 327 and settled at Rs 13232 a kg lead by short covering. According to the market sources jeera stocks currently are projected to be lower at around 10-11 lakh bags as compared to 13-14 lakh bags in the same period previous year. Jeera prices will depend on the demand from the overseas and domestic buyers and sowing progress in the major jeera growing areas particularly Rajasthan and Gujarat. The total arrivals of jeera were around 2500 bags were reported at Unjha Mandi against 2000 bags from the previous day. In Unjha, a key spot market in Gujarat, jeera dropped -45 rupees to end at 13030 rupees per 100 kg. The contract made intraday low of Rs 12723 a kg and high of Rs 13286 a kg. Support for jeera is at 12875 below that could see a test of 12517. Resistance is now seen at 13438 above that could see a resistance of 13643.

Trading Ideas:

Jeera trading range is 12517-13643.

Jeera ended higher lead by short covering

Jeera is having resistance at 13360 and support at 13080 level.

NCDEX accredited warehouses jeera stocks rose 102 tonnes to 6876 tonnes.

In Unjha, a key spot market in Gujarat, jeera dropped -45 rupees to end at 13030 rupees per 100 kg.