Jeera January contract gained Rs 29 and settled at Rs 14500 a kg but reversed its early gains due to its poor demand in the mandis amidst its increased arrivals. High volatility is being observed for the commodity as weather has remained crucial for the growth of the new crop. Rains in Gujarat or Rajasthan at this stage can be detrimental for the crop growth. The arrivals of jeera were around 2500 bags against 3000 bags that were reported last day. In Unjha, a key spot market in Gujarat, jeera dropped -19.65 rupees to end at 14478.35 rupees per 100 kg. The contract made intraday low of Rs 14310 a kg and high of Rs 14595 a kg. Support for jeera is at 14342 below that could see a test of 14183. Resistance is now seen at 14627 above that could see a resistance of 14753.

Trading Ideas:

Jeera trading range is 14188-14758.

Jeera ended firm but reversed its early gains due to its poor demand in the mandis

Jeera is having resistance at 14625 and support at 14340 level.

NCDEX accredited warehouses jeera stocks fell 18 tonnes to 5444 tonnes.

SELL JEERA JAN @ 14600-650 SL 14780 TGT 14470-14320-14180.NCDEX

In Unjha, a key spot market in Gujarat, jeera dropped -19.65 rupees to end at 14478.35 rupees per 100 kg.