Jeera on NCDEX settled down by -0.52% at 19280 on profit booking after gaining on expectation of upsurge in physical demand at the spot market. Further, hopes of good export demand due to fresh trouble in Turkey following news of a coup attempt limited the downside. 

According to Dept of Commerce data, the exports of Jeera in the first month of 2016-17 increased by more than 50.7% at 13, 525 tonnes compared to last year same month. Moreover, export of jeera during 2015-16 is 93,078 tonnes compared to 1.56 lt exported last year same period. As per 4thadvance estimate of Gujarat State for 2015-16, production is pegged at 2.38 lt compared to 1.97 lt in 2014-15. In 2013-14, production was 3.46 lt. 

In Unjha, a key spot market in Gujarat, jeera edged up by 175 rupees to end at 19375 rupee per 100 kg.Technically now Jeera is getting support at 19130 and below same could see a test of 18980 level, And resistance is now likely to be seen at 19515, a move above could see prices testing 19750. 

                               Trading Ideas

1. Jeera trading range for the day is 18980-19750.

2.  The exports of Jeera in the first month of 2016-17 increased by more than 50.7% at 13, 525 tonnes compared to last year same month.   

3. NCDEX accredited warehouses jeera stocks gained by 132 tonnes to 4943 tonnes.         

4. In Unjha, a key spot market in Gujarat, jeera edged up by 175 rupees to end at 19375 rupee per 100 kg.