Turmeric extended its gaining streak into a fifth straight session on lower-level buying driven by depleting stocks, but estimates of higher output and weak exports capped gains. In Nizamabad spot market the price jumped 188 rupees to 10,437 rupees. Buyers were active in the spot market on improved local demand. Turmeric yesterday we have seen that market has moved 1.3%. Market has opened at 7000 & made a low of 6941 versus the day high of 7118. The total volume for the day was at 14250 lots and the open interest was at 20980.Support for turmeric is at 6975 below that could see a test of 6869. Resistance is now seen at 7152 above that could see a resistance of 7223.

Trading Ideas:

Turmeric trading range is 6700-7200.

Turmeric extended gains on lower-level buying but weak exports capped gains

Buyers were active in the spot market on improved local demand

In Nizamabad spot market price jumped 188 rupees to 10,437 rupees

Yesterday we have seen that open interest has fell by 250 lots.

BUY TURMERIC APR @ 6700 SL 6610 TGT 6735-6770-6830.NCDEX