Jeera December contract gained Rs 140 and settled at Rs 13541 a kg as a squeeze in supplies and dwindling stocks prompted buying, offsetting hopes of higher sowing. Some value buying was seen supporting prices at lower levels earlier in the session. But prices could not sustain due to weakness in overseas demand. In India, jeera is cultivated during winter from October to December, and harvested during February-April. 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 13353 a kg and high of Rs 13625 a kg. Support for jeera is at 13388 below that could see a test of 13234. Resistance is now seen at 13660 above that could see a resistance of 13778.

Trading Ideas:

Jeera trading range is 13234-13778.

Jeera ended positive due to squeeze in supplies and dwindling stocks

Jeera is having resistance at 13700 and support at 13300 level.

NCDEX accredited warehouses jeera stocks rose 78 tonnes to 6993 tonnes.

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