Turmeric extended its gains on healthy physical demand amid depleting stockpiles. Higher production will soften prices. The market is waiting for arrivals from the new crop. Turmeric yesterday we have seen that market has moved 3.74%. Market has opened at 7432 & made a low of 7420 versus the day high of 7694. The total volume for the day was at 16610 lots and the open interest was at 16500.Support for turmeric is at 7499 below that could see a test of 7322. Resistance is now seen at 7773 above that could see a resistance of 7870.

Trading Ideas:

Turmeric trading range is 7350-7950.

Turmeric extended its gains on good physical demand amid depleting stockpiles

Now resist for Turmeric is at 7770 and support will be at 7590.

In Nizamabad spot prices settled at 10670.05 rupees per 100 kg

BUY TURMERIC APR @ 7550 SL 7460 TGT 7590-7622-7690.NCDEX