Turmeric ended higher buoyed by an improvement in demand and lower carry-forward stocks. Lower stocks were supporting upside. Lower-level buying was also there. Prices will correct significantly once arrivals pick up momentum in February. In Nizamabad, a major spot market in Andhra Pradesh, the price fell by 62 rupees to 10,524 rupees per 100 kg.

Turmeric yesterday we have seen that market has moved 2.72%. Market has opened at 10501 & made a low of 10501 versus the day high of 10898. The total volume for the day was at 5240 lots and the open interest was at 11620. Support for turmeric is at 10578 below that could see a test of 10341. Resistance is now seen at 10975 above that could see a resistance of 11135.

Trading Ideas:

TURMERIC TRADING RANGE IS 10400-11200.

TURMERIC ENDED HIGHER BUOYED BY AN IMPROVEMENT IN DEMAND AND LOWER CARRY-FORWARD STOCKS

SELL TMC BELOW 10680 SL 10745 TGT 10600-10540-10470. NCDEX

TODAY SOME PROFIT BOOKING CAN BE SEEN BELOW 10700.

IN NIZAMABAD SPOT MARKET PRICE FELL BY 61 RUPEES TO 10524.20 RUPEES PER 100 KG