Fresh buying in NCDEX Jeera; Support seen at 21410

NCDEX Agri product NCDEX Jeera is under fresh buying since market has witnessed gain in open interest by 8.04% to settled at 9,189 while prices up 500 rupees. It is getting support at 21,410 and below same could see a test of 20,950 level, while resistance is seen at 22,175, a move above could see prices testing 22,480.

The Jeera futures contract for December delivery was trading at Rs. 21,750.00, dipped by 0.05 percent or Rs 10.00 from its previous closing of Rs 21,760.00, whereas the contract for January delivery was trading at Rs 21, 800.00, down by 0.3 percent or Rs 65.00 from its previous closing of Rs 21,865.00.

Jeera on NCDEX settled up by 2.34 percent at 21,865 on revival of support amid weak stocks though sowing prospects are bright. Hopes of fresh export deal due to weak availability of Jeera in international market also provided support to prices.