Jeera December contract dropped Rs 66 and settled at Rs 13634 a kg owing to the diminishing demand as traders await for some dips before they could initiate fresh buying in the mandis. However, export demand is expected to increase in the coming days for the commodity as worldwide supply of jeera is limited. India is seen quoting competitive rate in the international market and prices traded are near $ 3000 per ton which is lower than market rates of Syria and Turkey. 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 dropped -61.55 rupees to end at 14150 rupees per 100 kg. The contract made intraday low of Rs 13553 a kg and high of Rs 13798 a kg. Support for jeera is at 13525 below that could see a test of 13417. Resistance is now seen at 13770 above that could see a resistance of 13907.

Trading Ideas:

Jeera trading range is 13425-13915.

Jeera ended weak owing to the diminishing demand

Jeera is having resistance at 13770 and support at 13525 level.

NCDEX accredited warehouses jeera stocks rose 144 tonnes to 5587 tonnes.

In Unjha, a key spot market in Gujarat, jeera dropped -61.55 rupees to end at 14150 rupees per 100 kg.