Turmeric settled lower on profit-taking sparked by hopes recent rains may boost yields and on higher margin imposed by exchange. Profit-taking pulled down the prices, spot market is firm on lower supply and good demand. In Nizamabad spot market the price dropped by 231 rupees to 12,578 rupees per 100 kg on Friday.

Turmeric yesterday we have seen that market has moved -1.52%. Market has opened at 11230 & made a low of 11012 versus the day high of 11488. The total volume for the day was at 18540 lots and the open interest was at 12920. Support for Turmeric is at 10889 below that could see a test of 10712. Resistance is now seen at 11365 above that could see a resistance of 11664. TURMERIC TRADING RANGE IS 10700-11350.

TURMERIC SETTLED LOWER ON SATURDAY ON PROFIT-TAKING

BUY TMC DEC ABV 11160 SL 11000 TGT 11225-11310-11390-11465. NCDEX

NOW RES IS AT 11140 ABV THIS A RALLY TILL 11260-11400 CAN BE SEEN.

IN NIZAMABAD SPOT PRICES DROPPED BY 231 RUPEES TO 12,578 RUPEES PER 100 KG

Commodity Analysis by Kedia Commodity, India's Premium Research House, Mumbai. Check out more commodity reviews at KediaCommodity. com