Jeera ended higher on buying interest supported by seasonal demand and a decline in arrivals. Seasonal demand is there.

Arrivals have also reduced from last week. Arrivals may remain steady in the range of 20,000-24,000 bags (60 kgs) at Unjha in coming days.

Spot rates in Unjha, a key spot market in Gujarat, prices ended at 11937.50 rupees per 100 kg. April contract gained Rs 17 and settled at Rs 12052 a kg.

The contract made intraday low of Rs 11990 a kg and high of Rs 12150 a kg. Support for jeera is at 11978 below that could see a test of 11904.

Resistance is now seen at 12138 above that could see a resistance of 12224.

Trading Ideas:

Jeera trading range is 11904-12224.
Jeera ended higher on buying interest supported by seasonal demand
Jeera looks to take support at 11970 and resistance at 12140 level
NCDEX accredited warehouses jeera stocks rose by 153 tonnes to 6543 tonnes.
Spot rates in Unjha prices ended at 11937.50 rupees per 100 kg
BUY JEERA APR AT 12090-12115 SL 12000 TGT 12145-12190-12240.NCDEX

Courtesy: Kedia Commodities

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