Jeera October contract gained Rs 205 and settled at Rs 13900 per quintal on some buying support tracking firm spot demand after prices dropped on prospects of better sowing after the monsoon rains revived late in the season. Sowing in the upcoming season is also going to be better. A firmness in Dollar could add to an improved export query as traders also expect domestic demand to pick up in coming weeks. Trading activities have remained low so far but are expected to pick up in coming weeks Rains in Gujarat and Rajasthan over last few weeks have been pressurizing the market sentiments as demand failed to pick up. Demand expected to pick up as skies clear up. Overall lower rainfall activities in Gujarat and Rajasthan this year could have a long term Bullish impact on the prices. But the recent rainfall activities have improved the sowing prospects to some extent. The total arrivals decreased to 4,000 bags from 5,000 bags, while demand shoot up to 10,000 bags from 4,000 bags reported previous day. Rains in Gujarat, the top growing state of the commodity, were above normal in the week ending Sept. 19 and this could help farmers increase the planted area. In Unjha, a key spot market in Gujarat, jeera gained 16.25 rupees to end at 14487.15 rupees per 100 kg. The contract made intraday low of Rs 13377.5 a kg and high of Rs 13952.5 a kg. Support for jeera is at 13534 below that could see a test of 13168. Resistance is now seen at 14109 above that could see a resistance of 14318.

Trading Ideas:

Jeera trading range for the day is 13168-14318.

Jeera gained on some buying support tracking firm spot demand after prices dropped on prospects of better sowing

Sowing in the upcoming season is also going to be better.

NCDEX accredited warehouses jeera stocks dropped by 50 tonnes to 9841 tonnes.

In Unjha, a key spot market in Gujarat, jeera gained 16.25 rupees to end at 14487.15 rupees per 100 kg.