Jeera April contract gained Rs 27 and settled at Rs 15771 per quintal with rising demand in the spot markets despite its higher arrival. Apprehensions of lower production and rise in domestic demand supported the prices. Further, traders expect trading activities to rise significantly in coming weeks as the arrivals are likely to shoot up and possibilities of exports too are picking up. The total fresh arrivals of around 22,000 bags (demand reported for 22,000 bags) were reported against 24,000 bags on previous day. In Unjha, a key spot market in Gujarat, jeera gained 5.95 rupees to end at 15785.7 rupees per 100 kg. The contract made intraday low of Rs 15582 a kg and high of Rs 15880 a kg. Support for jeera is at 15609 below that could see a test of 15446. Resistance is now seen at 15907 above that could see a resistance of 16042.

Trading Ideas:

Jeera trading range is 15455-16051.

Jeera gained with rising demand in the spot markets despite its higher arrival

Jeera is having resistance at 15907 and support at 15609 level.

NCDEX accredited warehouses jeera stocks rose by 168 tonnes to 11873 tonnes.

In Unjha, a key spot market in Gujarat, jeera gained 5.95 rupees to end at 15785.7 rupees per 100 kg.