Turmeric reversed gains and ended down as higher margins and hopes recent rains would boost yields weighed on sentiment. Turmeric exports climbed 7 percent to 4,000 tonnes in October 2009 from the same period last year. In Nizamabad spot market price dropped by over 212 rupees to 12,465.85 rupees per 100 kg. Turmeric yesterday we have seen that market flat without any change.

Turmeric yesterday we have seen that market has moved -1.3%. Market has opened at 10514 & made a low of 10263 versus the day high of 10604. The total volume for the day was at 11510 lots and the open interest was at 13770. Support for turmeric is at 10216 below that could see a test of 10069. Resistance is now seen at 10557 above that could see a resistance of 10751.

Trading Ideas: TURMERIC TRADING RANGE IS 10000-10750.

TURMERIC ENDED DOWN AS HOPES RECENT RAINS WOULD BOOST YIELDS WEIGHED ON PRICES

BUY TMC DEC ABV 10400 SL 10280 TGT 10550-10645-10720. NCDEX

NOW RES IS AT 10480 ABV THIS A RALLY TILL 10600-10750 CAN BE SEEN.

IN NIZAMABAD SPOT PRICES DROPPED BY 212 RUPEES TO 12465.85 RUPEES PER 100 KG

TURMERIC EXPORTS CLIMBED 7 PERCENT TO 4,000 TONNES IN OCTOBER 2009