Turmeric ended higher buoyed by an improvement in demand and lower carry-forward stocks. Lower stocks were supporting upside. Lower-level buying was also there. Prices will correct significantly once arrivals pick up momentum in February.

In Nizamabad spot market the price ended at 10714.30 rupees per 100 kg. Turmeric yesterday we have seen that market has moved 0.56%. Market has opened at 6868 & made a low of 6820 versus the day high of 7055. The total volume for the day was at 7910 lots and the open interest was at 13360. Support for turmeric is at 6898 below that could see a test of 6742. Resistance is now seen at 7133 above that could see a resistance of 7214.

Trading Ideas:

TURMERIC TRADING RANGE IS 6700-7350.

TURMERIC ENDED HIGHER BUOYED BY AN IMPROVEMENT IN DEMAND

NOW RESIST IS AT 7130 AND SUPPORT WILL BE AT 6890.

IN NIZAMABAD SPOT MARKET THE PRICE ENDED AT 10714.30 RUPEES PER 100 KG

BUY TURMERIC APR ABV 7120 SL 7000 TGT 7180-7245-7310. NCDEX