Turmeric rose by daily maximum limit on short-covering driven by depleting stocks and good demand in physical market. Turmeric arrivals usually start in mid-January in small quantities and gain momentum from March. In the Nizamabad spot market, turmeric moved further higher Rs 388 to close at Rs 10,729.35 per 100 kg.

Turmeric yesterday we have seen that market has moved 4.01%. Market has opened at 9574 & made a low of 9574 versus the day high of 9885. The total volume for the day was at 6960 lots and the open interest was at 13470. Support for turmeric is at 9678 below that could see a test of 9470. Resistance is now seen at 9989 above that could see a resistance of 10092.

Trading Ideas:

TURMERIC TRADING RANGE IS 9500-10200.

TURMERIC ROSE YESTERDAY ON SHORT-COVERING DRIVEN BY DEPLETING STOCKS AND GOOD DEMAND

WAIT FOR FRESH ON DIP TILL 9450 LEVEL

BUY TMC DEC ON DIP @ 9400-9450 SL 9320 TGT 9500-9580-9640.NCDEX

NOW RESISTANCE IS AT 9990 AND SUPPORT IS AT 9760 LEVEL.

IN NIZAMABAD SPOT PRICES GAINED BY 388 RUPEES TO 10729.35 RUPEES PER 100 KG