Turmeric rose by 3 percent on low-level buying spurred by depleting stocks and improved local demand. Domestic off-take is improving and it is likely to continue. In Nizamabad spot market the price jumped 207 rupees to 10,644 rupees. Local demand has improved but exports are weak due to higher moisture content in the new crop.

Turmeric yesterday we have seen that market has moved 3.19%. Market has opened at 7125 & made a low of 7090 versus the day high of 7333. The total volume for the day was at 13130 lots and the open interest was at 21030. Support for turmeric is at 7154 below that could see a test of 7001. Resistance is now seen at 7397 above that could see a resistance of 7487.

Trading Ideas:

Turmeric trading range is 7050-7550.

Turmeric rose by 3% on low-level buying and improved local demand

Local demand has improved but exports are weak

In Nizamabad spot market price jumped 207 rupees to 10,644 rupees

Yesterday we have seen that open interest has rose by 50 lots and volume fell by 1120.

TODAY CORRECTION DUE : SELL TMC APR BELOW 7280 SL 7333 TGT 7245-7202-7165. NCDEX