Jeera June contract gained Rs 6 and settled at Rs 15363 per quintal as traders continued to buy at lower levels on hopes of a bounce back in prices after it fell 8.70 percent since April. Fresh crop arrivals from the other major producers Syria and Turkey are slated to commence from May end - June. These countries are currently reported to have low carry over stock and are awaiting arrivals from the new crop. Their prices of Jeera are being offered at higher levels than the Indian origin. There are reports of rains in Syria. The total arrivals of jeera were reported at 12000 bags, down 3000 bags from the last day at Unjha Mandi. In Unjha, a key spot market in Gujarat, jeera gained 88.75 rupees to end at 14943.75 rupees per 100 kg. The contract made intraday low of Rs 15283 a kg and high of Rs 15488 a kg. Support for jeera is at 15268 below that could see a test of 15173. Resistance is now seen at 15473 above that could see a resistance of 15583.

Trading Ideas:

Jeera trading range is 15173-15583.

Jeera ended with slight gains as traders continued to buy at lower levels on hopes of bounce back in prices

Jeera is having resistance at 15473 and support at 15268 level.

NCDEX accredited warehouses jeera stocks rose by 154 tonnes to 13804 tonnes.

In Unjha, a key spot market in Gujarat, jeera gained 88.75 rupees to end at 14943.75 rupees per 100 kg.