Jeera December contract dropped Rs 15 and settled at Rs 13540 a kg on hopes of a rise in acreage on favourable weather and soil moisture and poor export demand offsetting slack supplies. Projection of higher sowing is weighing on sentiment. Sowing of jeera has commenced at some places but full-fledged sowing will start only by mid-November. 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 13470 a kg and high of Rs 13692 a kg. Support for jeera is at 13443 below that could see a test of 13345. Resistance is now seen at 13665 above that could see a resistance of 13789.

Trading Ideas:

Jeera trading range is 13338-13782.

Jeera ended weak on hopes of a rise in acreage

Jeera is having resistance at 13665 and support at 13443 level.

NCDEX accredited warehouses jeera stocks fell 770 tonnes to 6223 tonnes.

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