Turmeric extended the previous session's gains to strike new contract highs buoyed by good spot demand from domestic and overseas buyers amid dwindling stocks. Spot demand is supporting prices, but in next few weeks arrivals from new crop will begin and put pressure on prices. In the spot market in Nizamabad turmeric jumped 172 rupees to 10,842 rupees per 100 kg.

Turmeric yesterday we have seen that market has moved 1.39%. Market has opened at 7700 & made a low of 7628 versus the day high of 7834. The total volume for the day was at 16770 lots and the open interest was at 17150. Support for turmeric is at 7659 below that could see a test of 7541. Resistance is now seen at 7865 above that could see a resistance of 7953.

Trading Ideas:

Turmeric trading range is 7450-8000.

Turmeric ended higher buoyed by good spot demand from domestic and overseas buyers

Now resist for Turmeric is at 7865 and support will be at 7660.

In Nizamabad spot prices jumped 172 rupees to 10,842 rupees per 100 kg

BUY TURMERIC APR @ 7600 SL 7520 TGT 7645-7722-7780.NCDEX