Turmeric snapped a 10-day losing streak on short-covering near support levels, offsetting estimates of higher output and fresh arrivals. In Nizamabad spot market the price dropped by 97 rupees to 10,033 rupees. Turmeric yesterday we have seen that market has moved 0.9%. Market has opened at 6741 & made a low of 6621 versus the day high of 6905. The total volume for the day was at 16740 lots and the open interest was at 20720.Support for turmeric is at 6608 below that could see a test of 6473. Resistance is now seen at 6892 above that could see a resistance of 7041.

Trading Ideas:

Turmeric trading range is 6500-6950.

Turmeric snapped a 10-day losing streak on short-covering near support levels

Resistance for turmeric is at 6830 and support is at 6610 level

Spot turmeric remained steady in Sangli but lost Rs 100 a quintal in Erode

Yesterday we have seen that volume has rose by 3630 lots.

WILL WAIT TO TAKE POSITION IN TMC AT THIS LEVEL