Turmeric ended weak as profit-taking driven by rising arrivals hurt sentiment, but prices may open up in the next session supported by firm domestic demand and low stocks. Arrivals have increased in the physical market as farmers are getting remunerative prices. In Nizamabad, a major spot market in Andhra Pradesh, the price ended at 11304.60 rupees per 100 kg. Turmeric yesterday we have seen that market has moved 0.5%. Market has opened at 10750 & made a low of 10601 versus the day high of 10970. The total volume for the day was at 7820 lots and the open interest was at 7110.Support for turmeric is at 10717 below that could see a test of 10474. Resistance is now seen at 11086 above that could see a resistance of 11212.

Trading Ideas:

Turmeric trading range is 10428-11166.

Turmeric ended weak as profit-taking driven by rising arrivals hurt sentiment

Resistance for turmeric is at 10880 and support is at 11020 level.

Yesterday we have seen that open interest fell by 160 and volume fell by 3640 lots.

In Nizamabad spot prices ended at 11304.60 rupees per 100 kg.

BUY TMC APR ABV 11000 SL 10940 TGT 11060-11120-11180.NCDEX