Turmeric rose by daily maximum limit on dwindling stockpiles and thin arrivals in physical market. In the spot market prices rose by 56 rupees to 10,678 rupees per 100 kg. Turmeric output is likely to rise this year as farmers in southern and western India increased acreage under the spice. Turmeric yesterday we have seen that market has moved 4%. Market has opened at 7007 & made a low of 7007 versus the day high of 7279. The total volume for the day was at 6990 lots and the open interest was at 10090. Support for turmeric is at 7098 below that could see a test of 6916. Resistance is now seen at 7370 above that could see a resistance of 7460.

Trading Ideas:

TURMERIC TRADING RANGE IS 6900-7500.

TURMERIC HIT UPPER CIRCUIT ON DWINDLING STOCKPILES AND THIN ARRIVALS

BUY TURMERIC APR ABV 7325 SL 7230 TGT 7370-7440-7510. NCDEX

NOW IMP WILL BE THE 7000 MARK BELOW THIS LOOKS TILL 6850-6700.

IN NIZAMABAD SPOT MARKET THE PRICE ROSE BY 56 RUPEES TO 10,678 RUPEES PER 100 KG