Jeera August contract gained Rs 362 and settled at Rs 16743 per quintal as export queries and low arrivals supported the market trend. Traders expect overall trend to remain firm on rising exports for the commodity in coming weeks. Rains in Gujarat had slight bearish impact on the market sentiments as the demand got adversely affected but that is considered to be temporary phenomenon only. Trend likely to remain up with intermittent profit booking. In Unjha mandi, 8000 bags arrival was seen and demand remained at ~8000 bags. According to Spices Board of India exports of Jeera from India during April 2010- March 2011 stood at 32,500 tonnes as compared to 49,750 tonnes in 2009-10, decline of 35%.In Unjha, a key spot market in Gujarat, jeera gained 246.25 rupees to end at 15765 rupees per 100 kg. The contract made intraday low of Rs 16360 a kg and high of Rs 16910 a kg. Support for jeera is at 16432 below that could see a test of 16121. Resistance is now seen at 16982 above that could see a resistance of 17221.

Trading Ideas:

Jeera trading range is 16121-17221.

Jeera gained as export queries and low arrivals supported the market trend

Jeera is having resistance at 16982 and support at 16432 level.

NCDEX accredited warehouses jeera stocks gained by 87 tonnes to 11784 tonnes.

In Unjha, a key spot market in Gujarat, jeera gained 246.25 rupees to end at 15765 rupees per 100 kg.