Turmeric hit contract highs before ending lower by more than 3 percent on heavy profit-booking. Traders may continue to book profit in the next session as prices have risen significantly. Turmeric exports in January 2010 stood at 3,250 tonnes, down 22.61 percent from a year ago, according to data from the Spices Board.

In Nizamabad, a major spot market in Andhra Pradesh, the price slipped 11 rupees to end at 9,162 rupees. Turmeric yesterday we have seen that market has moved -3.13%. Market has opened at 9309 & made a low of 8770 versus the day high of 9492. The total volume for the day was at 55230 lots and the open interest was at 22190. Support for turmeric is at 8576 below that could see a test of 8312. Resistance is now seen at 9298 above that could see a resistance of 9756.

Trading Ideas:

Turmeric trading range is 8312-9756.

Turmeric ended lower by more than 3 percent on heavy profit-booking

Resistance for turmeric is at 8760 and support is at 8920 level.

Yesterday we have seen that open interest at 22190 and volume at 55230 lots.

In Nizamabad spot prices fells by 11 rupees and ended at 9162 rupees.

SELL TMC APR ON JUMP @ 8980 SL 9040 TGT 8920-8860-8800.NCDEX