Jeera June contract gained Rs 281 and settled at Rs 14317 per quintal as apprehensions of lower production and rise in domestic demand supported the prices. The total arrivals of jeera were reported at 8000 bags, down 3000 bags from the last day at Unjha Mandi. This was mainly due to poor production in the current year. The total production of jeera in the current season is likely to be around 24 lakh bags (1 bag = 60 kgs) against 28 lakh bags reported last year. This was mainly due to sharp decline in sowing acreage of jeera crop in Gujarat. In Unjha, a key spot market in Gujarat, jeera gained 57.5 rupees to end at 14500 rupees per 100 kg. The contract made intraday low of Rs 13986 a kg and high of Rs 14317 a kg. Support for jeera is at 14096 below that could see a test of 13876. Resistance is now seen at 14427 above that could see a resistance of 14538.

Trading Ideas:

Jeera trading range is 13876-14538.

Jeera gained as apprehensions of lower production and rise in domestic demand supported the prices.

Jeera is having resistance at 14427 and support at 14096 level.

NCDEX accredited warehouses jeera stocks gained by 81 tonnes to 13758 tonnes.

In Unjha, a key spot market in Gujarat, jeera gained 57.5 rupees to end at 14500 rupees per 100 kg.