Jeera on NCDEX settled up 0.4% at 17755 on account of expectation of fresh export demand coupled with tight supply from the producing belts. Though, some gains were capped due to limited demand at the spot market. In 2016- 17, the output of jeera is seen falling in other major producers Syria and Turkey to 10,000 ton and 12,000 ton respectively from 15,000 ton and 17,000 ton in 2015-16, report added. As per market source, India is likely to export 40,000- 45,000 ton more jeera in coming months.

Technically market is under short covering as market has witnessed drop in open interest by -3.61% to settled at 15372 while prices up 70 rupee, now Jeera is getting support at 17648 and below same could see a test of 17542 level, And resistance is now likely to be seen at 17898, a move above could see prices testing 18042.     

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