Jeera January contract dropped Rs 163 and settled at Rs 13875 a kg due to diminishing demand amidst steady supply. Further, traders also awaited 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. The total arrivals of jeera were around 2000 bags were reported at Unjha Mandi against 1500 bags from the previous day. In Unjha, a key spot market in Gujarat, jeera gained 18.2 rupees to end at 14168.2 rupees per 100 kg. The contract made intraday low of Rs 13791 a kg and high of Rs 14070 a kg. Support for jeera is at 13754 below that could see a test of 13633. Resistance is now seen at 14033 above that could see a resistance of 14191.

Trading Ideas:

Jeera trading range is 13635-14193.

Jeera ended weak due to diminishing demand amidst steady supply

Jeera is having resistance at 14030 and support at 13755 level.

NCDEX accredited warehouses jeera stocks rose 195 tonnes to 5782 tonnes.

In Unjha, a key spot market in Gujarat, jeera gained 18.2 rupees to end at 14168.2 rupees per 100 kg.