Jeera February contract gained Rs 56 and settled at Rs 14855 a kg on limited arrivals in the spot market as only 2500 bags arrived in the mandis as compared to fresh arrival of 3000 bags in the previous days. Further, the prices of the commodity may rise some more as jeera cultivation is expected to decline in major places like Gujarat since farmers shifting to wheat cultivation due to higher water availability. In Unjha, a key spot market in Gujarat, jeera dropped -3.35 rupees to end at 14475 rupees per 100 kg. The contract made intraday low of Rs 14712 a kg and high of Rs 15087 a kg. Support for jeera is at 14682 below that could see a test of 14510. Resistance is now seen at 15057 above that could see a resistance of 15260.

Trading Ideas:

Jeera trading range is 14511-15261.

Jeera ended firm on limited arrivals in the spot market

Jeera is having resistance at 15000 and support at 14680 level.

NCDEX accredited warehouses jeera stocks rose 45 tonnes to 5489 tonnes.

SELL JEERA JAN @ 14600-650 SL 14780 TGT 14470-14320-14180.NCDEX (STBT)

In Unjha, a key spot market in Gujarat, jeera dropped -3.35 rupees to end at 14475 rupees per 100 kg.