Turmeric snapped a three-day losing streak on bargain-buying triggered by depleting stock. Turmeric exports in December remained flat at 3,250 tonnes from 3,350 tonnes a year ago. In Nizamabad, a major spot market in Andhra Pradesh, the price dropped 140 rupees to 10,410 rupees. Turmeric arrivals usually start in mid-January in small quantities. Turmeric yesterday we have seen that market has moved 1.26%. Market has opened at 6875 & made a low of 6875 versus the day high of 7090. The total volume for the day was at 13130 lots and the open interest was at 20600.Support for turmeric is at 6874 below that could see a test of 6767. Resistance is now seen at 7089 above that could see a resistance of 7197.

Trading Ideas:

Turmeric trading range is 6700-7200.

Turmeric snapped a three-day losing streak on bargain-buying triggered by depleting stock

Turmeric is having support at 6870 whereas resistance is at 7090.

In Nizamabad spot market prices fell by 140 and settled at 10,410 rupees

BUY TMC APRIL ABV 7000 SL 6960 TGT 7045-7090-7156.NCDEX

Yesterday we have seen that open interest has fell by 570 lots and volume by 1500.