Jeera ended higher due to decline in arrivals amid improved domestic demand and a likely rise in overseas enquiries.

At Unjha, arrivals have declined to 20,000-22,000 bags (60 kgs) per day against 30,000 bags per day last week as farmers are waiting for higher prices.

Spot rates in Unjha jumped 175 rupees to end at 11,812.50 rupees per 100 kg. April contract gained Rs 51 and settled at Rs 12050 a kg.

The contract made intraday low of Rs 12012 a kg and high of Rs 12257 a kg. Support for jeera is at 11956 below that could see a test of 11861.

Resistance is now seen at 12201 above that could see a resistance of 12351.

Trading Ideas:

Jeera trading range is 11861-12351.
Jeera ended higher due to decline in arrivals amid improved domestic demand
Jeera looks to take support at 11956 and resistance at 12200 level
NCDEX accredited warehouses jeera stocks rose by 90 tonnes to 5582 tonnes.
SELL JEERA APR BELOW 12000 SL 12090 TGT 11935-11860-11780.NCDEX
Spot rates in Unjha prices jumped 175 rupees to end at 11,812.50 rupees per 100 kg

Courtesy: Kedia Commodities

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