Turmeric yesterday we have seen that market has moved -1.31% on profit booking as the prices failed to sustain the gains and took decent corrections on profit booking. In absences of any cues from market and liquidation of positions on closing of week pressurized the prices. However, prices might reverse the trend on corrections on higher levels. Turmeric arrivals in Nizamabad mandi stood at 5000 bags and arrivals in Erode were 2,500 bags. In Nizamabad, a major spot market in AP, the price ended at 14885.7 rupees dropped by -230.05 rupees. Market has opened at 10000 & made a low of 9870 versus the day high of 10098. The total volume for the day was at 2950 lots and the open interest was at 6100.Support for turmeric is at 9834 below that could see a test of 9738. Resistance is now seen at 10062 above that could see a resistance of 10194.

Trading Ideas:

Turmeric trading range is 9733-10189.

Turmeric dropped on profit booking as the prices failed to sustain the gains

Turmeric is having resistance at 10062 and support at 9834 level.

Turmeric arrivals in Nizamabad mandi stood at 5000 bags and arrivals in Erode were 2,500 bags.

In Nizamabad, a major spot market in AP, the price ended at 14885.7 rupees dropped by -230.05 rupees.