Turmeric wiped out early gains by midday on profit-booking after gaining more than 15 percent in the last 5 sessions and on rising arrivals in the physical market. Arrivals are gaining pace in spot market but demand is good and is likely to support prices. In Nizamabad, a major spot market in Andhra Pradesh, the price gained 518 rupees to end at 11,894 rupees. Turmeric yesterday we have seen that market has moved -3.99%. Market has opened at 11797 & made a low of 11103 versus the day high of 12014. The total volume for the day was at 29820 lots and the open interest was at 9840.Support for turmeric is at 10799 below that could see a test of 10496. Resistance is now seen at 11710 above that could see a resistance of 12318.

Trading Ideas:

Turmeric trading range is 10496-12318.

Turmeric wiped out early gains by midday on profit-booking

Resistance for turmeric is at 11040 and support is at 11170 level.

Yesterday we have seen that open interest fell by 1070 and volume rose by 25960 lots.

In spot prices gained 518 rupees to end at 11,894 rupees per 100 kg

BUY TMC APR @ 11200 SL 11160 TGT 11270-11322-11380.NCDEX