Technically Jeera market is under long liquidation as market has witnessed drop in open interest by 1.27% to settled at 1164 while prices down 15 rupees.

Now NCDEX Jeera is getting support at 13290 and below same could see a test of 13230 levels, and resistance is now likely to be seen at 13450, a move above could see prices testing 13550.

Jeera yesterday settled down by 0.11% at 13345 as the season progresses in Gujarat, the increase in Rabi sowing continues. Arrival quantity is less and the moisture content in it is being more.

The season progresses in Gujarat, the increase in Rabi sowing continues. The supply of good quality new crop is expected to increase from the third week of February and then its commercial activities will also pick up.

The area under cultivation of cumin in Gujarat has come down from 4.88 lakh hectare in last year to 4.69 lakh hectare, but its 15.50 percent more than 4.06 lakh hectare as per Five Year Average Area.

The production area of cumin in Rajasthan has increased from 6.41 lakh hectare to 6.85 lakh hectare. The weather condition is good this time in both the provinces of Gujarat and Rajasthan and till now the crop has not faced any natural disaster.

The average yield rate of cumin may increase if the weather is favorable in February-March. Prices have remained largely stable due to better domestic and export demand in cumin. The total production of cumin is likely to be around last year.

An average daily arrival of 10-20 bags of new cumin seeds and 30-40 bags of new fennel is coming in Unjha Mandi. In Unjha, a key spot market in Gujarat, jeera edged down by 40.6 Rupees to end at 13010.55 Rupees per 100 kg.

Trading Ideas:
–Jeera trading range for the day is 13230-13550.
–Jeera prices settled flat as the season progresses in Gujarat, the increase in Rabi sowing continues.
–The supply of good quality new crop is expected to increase from the third week of February and then its commercial activities will also pick up.
–The area under cultivation of cumin in Gujarat has come down from 4.88 lakh hectare in last year to 4.69 lakh hectare
–In Unjha, a key spot market in Gujarat, jeera edged down by 40.6 Rupees to end at 13010.55 Rupees per 100 kg.