Turmeric extended previous losses to end lower on fresh selling triggered by rising arrivals, hopes of higher output and weak exports. Nizamabad market received around 3,000-4,000 bags of new crop. Moisture content is high in the fresh arrivals. In Nizamabad, a major spot market in Andhra Pradesh, the price dropped 198 rupees to 10,550 rupees.

Turmeric yesterday we have seen that market has moved -1.28%. Market has opened at 6901 & made a low of 6812 versus the day high of 6968. The total volume for the day was at 14630 lots and the open interest was at 21170. Support for turmeric is at 6786 below that could see a test of 6721. Resistance is now seen at 6942 above that could see a resistance of 7033.

Trading Ideas:

Turmeric trading range is 6600-7100.

Turmeric extended losses to end lower on fresh selling triggered by rising arrivals and weak exports

Turmeric is having support at 6785 whereas resistance is at 6940.

In NCDEX accredited warehouses stock of chana were at 28584 tonnes up by 548 tonnes

In Nizamabad spot market prices fell by 198 and settled at 10,550 rupees

LOOKING TILL 6650 LEVEL WAIT FOR A JUMP TO SELL