Turmeric yesterday we have seen that market has moved -0.73% due to the profit booking at higher level amidst lack of fresh demand for the commodity. However, anticipated delayed owing to the adverse weather condition in growing places of the commodity has limited the loss for turmeric. In Nizamabad, a major spot market in AP, the price ended at 16822.2 rupees gained by 53.2 rupees. Market has opened at 10020 & made a low of 10020 versus the day high of 10190. The total volume for the day was at 1970 lots and the open interest was at 6635.Support for turmeric is at 9998 below that could see a test of 9924. Resistance is now seen at 10168 above that could see a resistance of 10264.

Trading Ideas:

Turmeric trading range is 9929-10269.

Turmeric ended weak due to the profit booking at higher level

Turmeric is having resistance at 10170 and support at 10000 level.

Spread between Turmeric APR & MAY contracts yesterday traded in the range of -446 to -372.

SELL TMC APR BELOW 10000 SL 10165 TGT 9920-9842-9765.NCDEX

In Nizamabad, a major spot market in AP, the price ended at 16822.2 rupees gained by 53.2 rupees.