Commodity Outlook for Jeera by KediaCommodity

JeeraJeera July contract gained Rs 155 and settled at Rs 12100 a kg on dwindling arrivals, some improvement in spot demand and poor stocks. Domestic demand is there but it is not picking up as per the expectation. Prices may sustain at higher levels only if local demand improves. In Unjha, a key spot market in Gujarat, jeera gained 42 rupees at 12,383 rupees per 100 kg. The contract made intraday low of Rs 11980 a kg and high of Rs 12145 a kg. Support for jeera is at 12005 below that could see a test of 11910. Resistance is now seen at 12170 above that could see a resistance of 12240.

Trading Ideas:

Jeera trading range is 11910-12240.

Jeera ended higher on dwindling arrivals and some improvement in spot demand

Support for the jeera is at 12005 and resistance is at 12170.

NCDEX accredited warehouses jeera stocks dropped 45 tonnes to 7619 tonnes.

BUY JEERA JULY @ 12000-12040 SL 11900 TGT 12120-12180-12240.NCDEX

In Unjha spot prices gained 43 rupees and ended at 12,383 rupees per 100 kg