Turmeric yesterday we have seen that market has moved -0.28% due to profit taking. The speculators trimmed their position on the hopes that the fresh stock of the commodity may weigh down on its prices as the huge arrival at spot markets is expected. In Nizamabad, a major spot market in AP, the price ended at 15952.95 rupees gained by 205.85 rupees. Turmeric arrivals in Nizamabad mandi slightly improved to 2,500 bags. Market has opened at 10000 & made a low of 9862 versus the day high of 10020. The total volume for the day was at 1930 lots and the open interest was at 6390.Support for turmeric is at 9864 below that could see a test of 9784. Resistance is now seen at 10022 above that could see a resistance of 10100.

Trading Ideas:

Turmeric trading range is 9791-10107.

Turmeric ended weak due to profit taking

Turmeric is having resistance at 10022 and support at 9864 level.

Turmeric arrivals in Nizamabad mandi slightly improved to 2,500 bags.

SELL TMC APR @ 10000 SL 10160 TGT 9920-9842-9750.NCDEX

In Nizamabad, a major spot market in AP, the price ended at 15952.95 rupees gained by 205.85 rupees.