Jeera ended lower on profit-booking driven by rising arrivals and mounting stock. Market is waiting for fresh demand from overseas market.

Arrivals are hurting sentiment. Spot rates in Unjha, a key spot market in Gujarat, price dropped 80.5 rupees to end at 11,732 rupees per 100 kg.

April contract dropped Rs 209 and settled at Rs 11871 a kg. The contract made intraday low of Rs 11810 a kg and high of Rs 12050 a kg.

Support for jeera is at 11771 below that could see a test of 11670. Resistance is now seen at 12011 above that could see a resistance of 12150.

Trading Ideas:

Jeera trading range is 11670-12150.
Jeera ended lower on profit-booking driven by mounting stock
Jeera looks to take support at 11770 and resistance at 12010 level
NCDEX accredited warehouses jeera stocks rose by 562 tonnes to 6144 tonnes.
Spot rates in Unjha prices dropped 80.5 rupees to end at 11,732 rupees per 100 kg
SELL JEERA APR ON JUMP AT 12000 SL 12090 TGT 11935-11860-11780.NCDEX

Courtesy: Kedia Commodities

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