Jeera December contract gained Rs 364 and settled at Rs 13883 a kg on the back on bargain buying at the lower level amidst its slack supplies. However, projection of higher sowing is weighing on sentiment and is limiting further upside of the commodity. Sowing of jeera has commenced at some places but full-fledged sowing will start only by mid-November, till then supplies are expected to remain restricted. Carryover stocks of jeera with the local stockiest is around 7-8 lakh bags. 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 13500 a kg and high of Rs 13918 a kg. Support for jeera is at 13616 below that could see a test of 13349. Resistance is now seen at 14034 above that could see a resistance of 14185.

Trading Ideas:

Jeera trading range is 13349-14185.

Jeera ended higher on the back on bargain buying at the lower level

Jeera is having resistance at 14000 and support at 13720 level.

NCDEX accredited warehouses jeera stocks rose 12 tonnes to 6235 tonnes.

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