Turmeric fell by daily maximum limit on profit-taking driven by higher margin and hopes recent rains would boost yields. Ahead of near-month contract's expiry traders are booking profits. In Nizamabad spot market price dropped by 199 rupees to 12,679 rupees per 100 kg. Turmeric yesterday we have seen that market has moved -4%. Market has opened at 10801 & made a low of
10500 versus the day high of 10850. The total volume for the day was at 16880 lots and the open interest was at 13360. Support for turmeric is at 10383 below that could see a test of 10267. Resistance is now seen at 10733 above that could see a resistance of 10967.

Trading Ideas:

TURMERIC TRADING RANGE IS 10100-10900.

TURMERIC YESTERDAY FELL ON PROFIT-TAKING DRIVEN BY HIGHER MARGIN

DUE TO EXPIRY MKT WILL BE VOLATILE AND SELLING PRESSURE IN DEC WILL BE SEEN.

WE LOOK TURMERIC TO TAKE SUPPORT NOT BEFORE 10100 LEVEL IN DEC CONTACT.

NOW RES IS AT 10620 ABV THIS A RALLY TILL 10750-10900 CAN BE SEEN.

IN NIZAMABAD SPOT PRICES DROPPED BY 199 RUPEES TO 12678.80 RUPEES PER 100 KG

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