Jeera April contract dropped Rs 348 and settled at Rs 16530 a kg amid fresh arrivals of the new crop amidst clearer skies in Gujarat and Rajasthan that put pressure on prices. Further, low export demand pressurized the prices further as traders waited for dips before new queries. Industry officials expect jeera output to come down this year due to unseasonal rains and cloudy weather. In Unjha, a key spot market in Gujarat, jeera dropped -220.85 rupees to end at 16150 rupees per 100 kg. The contract made intraday low of Rs 16391 a kg and high of Rs 16848 a kg. Support for jeera is at 16331 below that could see a test of 16133. Resistance is now seen at 16788 above that could see a resistance of 17047.

Trading Ideas:

Jeera trading range is 16128-17042.

Jeera yesterday dropped amid fresh arrivals of the new crop

Jeera is having resistance at 16700 and support at 16380 level.

NCDEX accredited warehouses jeera stocks fell by 540 tonnes to 9802tonnes.

In Unjha, a key spot market in Gujarat, jeera dropped -220.85 rupees to end at 16150 rupees per 100 kg.