Jeera ended down on poor spot demand, sluggish overseas inquiries and estimates of higher output. Buying interest to recover as arrivals are declining in spot. Spot rates in Unjha, a key spot market in Gujarat, dropped 16 rupees to end at 12,536 rupees per 100 kg. June contract dropped Rs 199 and settled at Rs 12018 a kg.

The contract made intraday low of Rs 11990 a kg and high of Rs 12322 a kg. Support for jeera is at 11898 below that could see a test of 11778. Resistance is now seen at 12230 above that could see a resistance of 12442.

Trading Ideas:

Jeera trading range is 11778-12442.

Jeera ended down on poor spot demand and sluggish overseas inquiries

Support for the jeera is at 11900 and resistance is at 12120.

NCDEX accredited warehouses jeera stocks rose by 279 tonnes to 8614 tonnes.

SELL JEERA JUNE BELOW 12000 SL 12140 TGT 11920-11840-11760. NCDEX

In Unjha spot prices fell 16 rupees to end at 12,535 rupees per 100 kg