Jeera June contract gained Rs 300 and settled at Rs 15186 per quintal due to bargain-buying after the recent correction. Production of jeera in Gujarat and Rajasthan in 2011 is expected to be around 21 lakh bags and 7-8 lakh bags in Rajasthan. Fresh crop arrivals from the other major producers Syria and Turkey are slated to commence from May- June. These countries are currently reported to have low carry over stock and are awaiting arrivals from the new crop. In Unjha, a key spot market in Gujarat, jeera gained 68.2 rupees to end at 14937.5 rupees per 100 kg. The contract made intraday low of Rs 14885 a kg and high of Rs 15270 a kg. Support for jeera is at 14957 below that could see a test of 14729. Resistance is now seen at 15342 above that could see a resistance of 15499.

Trading Ideas:

Jeera trading range is 14729-15499.

Jeera gained due to bargain-buying after the recent correction

Jeera is having resistance at 15342 and support at 14957 level.

NCDEX accredited warehouses jeera stocks rose by 93 tonnes to 13071 tonnes.

In Unjha, a key spot market in Gujarat, jeera gained 68.2 rupees to end at 14937.5 rupees per 100 kg.