Jeera December contract dropped Rs 265 and settled at Rs 14160 a kg on weak export demand and fresh sowing in some parts of Gujarat due to clear weather. Fresh sowing is done at some places because the weather is favourable but the total area under cultivation may drop because the sowing has been delayed by more than a fortnight. Dry weather in Gujarat is supporting sowing of jeera which was hit by unseasonal rains earlier this month. The total arrivals of around 3000 bags were reported at Unjha Mandi against 2500 bags from the previous day. In Unjha, a key spot market in Gujarat, jeera gained 23.35 rupees to end at 14458.35 rupees per 100 kg. The contract made intraday low of Rs 14137 a kg and high of Rs 14575 a kg. Support for jeera is at 14006 below that could see a test of 13853. Resistance is now seen at 14444 above that could see a resistance of 14729.

Trading Ideas:

Jeera trading range is 13879-14755.

Jeera ended lower on weak export demand and fresh sowing

Jeera is having resistance at 14380 and support at 14000 level.

NCDEX accredited warehouses jeera stocks rose 180 tonnes to 5189 tonnes.

In Unjha, a key spot market in Gujarat, jeera gained 23.35 rupees to end at 14458.35 rupees per 100 kg.