Jeera ended up as traders covered short-positions and on continued buying. Fresh arrivals, weak exports and estimates of higher output this season due to favourable weather in growing regions, have pulled jeera prices down nearly 22 percent in 2010. Spot rates in Unjha, a key spot market in Gujarat, ended at 11,678.55 rupees, up 109.25 rupees.

March contract gained Rs 453 and settled at Rs 11756 a kg. The contract made intraday low of Rs 11299 a kg and high of Rs 11756 a kg. Support for jeera is at 11451 below that could see a test of 11147. Resistance is now seen at 11908 above that could see a resistance of 12061.

Trading Ideas:

Jeera trading range is 11147-12061.

Jeera yesterday ended up as traders covered short-positions

Support for jeera is at 11630 and resistance is at 11910.

Yesterday we have seen that open interest at 7092 and volume at 5958 lots.

BUY JEERA MAR @ 11700-11740 SL 11620 TGT 11800-11865-11920.NCDEX

Spot rates in Unjha ended at 11,678.55 rupees, up 109.25 rupees per 100 kg.