Jeera August contract gained Rs 419 and settled at Rs 14935 a kg on firm global prices, good local demand and poor stocks. Overseas demand may divert towards India as Syria is quoting at a premium. In the international market, Indian jeera is quoted in the range of $2,900-$3,000 per tonnes while Syrian produce is at $3,200 range per tonnes. At Unjha, the spot market in Gujarat, jeera gained 230.5 rupees to end at 14,151.50 rupees per 100 kg. The contract made intraday low of Rs 14516 a kg and high of Rs 14940 a kg. Support for jeera is at 14654 below that could see a test of 14373. Resistance is now seen at 15078 above that could see a resistance of 15221.

Trading Ideas:

Jeera trading range is 14373-15221.

Jeera ended positive on firm global prices and good local demand

Support for the jeera is at 14780 and resistance is at 15080.

NCDEX accredited warehouses jeera stocks fell by 114 tonnes to 6267 tonnes.

In Unjha spot prices rose 230.50 rupees and settled at 14151.50 rupees per 100 kg.