Turmeric ended over 2 percent up on fresh buying triggered by dwindling stocks, but rising arrivals and weak exports may cap gains. Open interest is increasing in Turmeric April contract, which is indicating fresh buying. In Nizamabad spot market the price slumped 447 rupees to end at 8,779 rupees. Turmeric yesterday we have seen that market has moved 2.48%. Market has opened at 7425 & made a low of 7425 versus the day high of 7712. The total volume for the day was at 24040 lots and the open interest was at 27290.Support for turmeric is at 7497 below that could see a test of 7317. Resistance is now seen at 7784 above that could see a resistance of 7891.

Trading Ideas:

Turmeric trading range is 7317-7891.

Turmeric ended over 2 percent up on fresh buying triggered by dwindling stocks

Open interest is increasing in turmeric which is indicating fresh buying

Turmeric is having support at 7610 whereas resistance is at 7740

MARKET IS OVER HEATED IN RECENT PRICE GAIN WAIT FOR FRESH ENTRY.

Spot turmeric slumped 447 rupees to end at 8,779 rupees per 100 kg