Turmeric retreated after hitting upper circuit due to profit-taking, driven by hopes recent rains could boost yields. Turmeric prices have risen over 200 percent since the beginning of the calendar year due to depleting stockpile.

In Nizamabad price rose by 126 rupees to 13,042 rupees per 100 kg. Turmeric yesterday we have seen that market has moved -1.81%. Market has opened at 11775 & made a low of 11221 versus the day high of 12006. The total volume for the day was at 29880 lots and the open interest was at 10800. Support for turmeric is at 11035 below that could see a test of 10736. Resistance is now seen at 11820 above that could see a resistance of 12306.

Trading Ideas:

TURMERIC TRADING RANGE IS 11000-11650.

TURMERIC RETREATED AFTER HITTING UPPER CIRCUIT DUE TO PROFIT-TAKING

MARKET WILL BE VOLATILE DUE TO EXPIRY SOME MORE DIP CAN BE SEEN

NOW RES IS AT 11420 ABV THIS A RALLY TILL 11510-11630 CAN BE SEEN.

IN NIZAMABAD SPOT PRICES GAINED BY 126 RUPEES TO 13041.65 RUPEES PER 100 KG

TURMERIC PRICES HAVE RISEN OVER 200% SINCE THE BEGINNING OF THE CALENDAR YEAR

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