Turmeric retreated after hitting new highs on profit-taking prompted by higher margin imposed by exchange. The NCDEX has imposed an additional special margin of 10 percent on the long side of all turmeric contracts from Monday. In Nizamabad, a major spot market in Andhra Pradesh, the price rose by 247 rupees to 12,809 rupees per 100 kg. Turmeric yesterday we have seen that market has moved -3.99%. Market has opened at 12219 & made a low of 11704 versus the day high of 12375.

The total volume for the day was at 27930 lots and the open interest was at 12450. Support for turmeric is at 11480 below that could see a test of 11257. Resistance is now seen at 12151 above that could see a resistance of 12599. TURMERIC TRADING RANGE IS
11400-12100.

Trading Ideas:

TURMERIC ENDED DOWN AON PROFIT BOOKING.

SELL TMC DEC BELOW 11650 SL 11740 TGT 11590-11500-11435-11380. NCDEX.

NOW RES IS AT 11820 ABV THIS A RALLY TILL 11960-12080 CAN BE SEEN.

IN NIZAMABAD SPOT PRICES ROSE BY 247 RUPEES TO 12,809.10 RUPEES PER 100 KG .

EXCHANGE HAS IMPOSED ADDITIONAL 10% MARGIN ON LONG SIDE FROM MONDAY.