Jeera November contract gained Rs 2 and settled at Rs 13230 a kg as a squeeze in supplies and dwindling stocks prompted buying, offsetting hopes of higher sowing. Supplies are very thin as traders are not willing to release the stocks on hopes of better prices. However, any significant upside move in prices is not expected as of now because export demand is not supportive. The arrivals of jeera were around 1500 bags against 1200 bags that were reported last day. In Unjha, a key spot market in Gujarat, jeera gained 120 rupees to end at 13150 rupees per 100 kg. The contract made intraday low of Rs 13138 a kg and high of Rs 13375 a kg. Support for jeera is at 13120 below that could see a test of 13011. Resistance is now seen at 13357 above that could see a resistance of 13485.

Trading Ideas:

Jeera trading range is 13016-13490.

Jeera ended flat as a squeeze in supplies offsets hopes of higher sowing

Jeera is having resistance at 13360 and support at 13120 level.

NCDEX accredited warehouses jeera stocks rose 39 tonnes to 6915 tonnes.

In Unjha, a key spot market in Gujarat, jeera gained 120 rupees to end at 13150 rupees per 100 kg.