Turmeric which hit contract highs in the previous session fell yesterday as hopes of higher output and a drop in exports in November sparked profit-taking. India's turmeric exports in November dropped by 33 percent to 3,000 tonnes, the Spices Board said last week. In Nizamabad spot market the price edged down by 66 rupees to 10,776 rupees per 100 kg. Turmeric yesterday we have seen that market has moved -2.9%. Market has opened at 7760 & made a low of 7555 versus the day high of 7770. The total volume for the day was at 13510 lots and the open interest was at 17630.Support for turmeric is at 7493 below that could see a test of 7417. Resistance is now seen at 7708 above that could see a resistance of 7847.

Trading Ideas:

Turmeric trading range is 7200-7900.

Turmeric fell yesterday on hopes of higher output and a drop in exports

Turmeric exports in November dropped by 33 percent to 3,000 tonnes

In Nizamabad spot prices fell 66 rupees to 10776 rupees per 100 kg

BUY TURMERIC APR @ 7450 SL 7360 TGT 7540-7610-7700.NCDEX