Turmeric extended a losing streak into an eighth session to hit the lower circuit, hammered by sluggish physical demand, rising arrivals and higher output estimates. Market is anticipating a further correction in spot prices due to rising arrivals. In Nizamabad spot market the price dropped by 167 rupees to 10,130 rupees.

Turmeric yesterday we have seen that market has moved -3.99%. Market has opened at 7010 & made a low of 6734 versus the day high of 7035. The total volume for the day was at 13110 lots and the open interest was at 22020. Support for turmeric is at 6634 below that could see a test of 6533. Resistance is now seen at 6935 above that could see a resistance of 7135.

Trading Ideas:

Turmeric trading range is 6450-7000.

Turmeric extended a losing streak hammered by sluggish physical demand

Resistance for turmeric is at 6840 and support is at 6640 level.

Yesterday we have seen that open interest has rose by 1000 lots to 22020.

In Nizamabad spot markets price dropped by 167 rupees to 10,130 rupees

TMC LOOK WEAK TILL SUPPORT AT 6600-6530 LEVEL