MUMBAI (Commodity Online): Jeera futures declined further from its last closes owing to higher supply and lower demand in the spot market Thursday. Speculators continued to book profit at higher levels.

NCDEX jeera August touched the high of Rs 14850 in the initial trading and then tumbled to the low of Rs 14565, down 1.08 percent from last close. The counter is now trading at Rs 14585, down 0.93 percent from last close and the open interest added 1.82 percent to 9,876 tonnes.

Support for jeera is at 14412 below that could see a test of 14162. Resistance is now seen at 15131 above that could see a resistance of 15600.

Jeera August contract dropped Rs 536 and settled at Rs 14663 a kg on short selling at higher levels. The fresh arrivals of around 800 bags were reported at Unjha Mandi against the previous arrivals of 6000 bags.

At Unjha, the benchmark spot market in Gujarat, Jeera gained 55 rupees to end at 14,560 rupees per 100 kg. The contract made intraday low of Rs 14630 a kg and high of Rs 15349 a kg.

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