Turmeric hit the 4 percent lower circuit on profit-booking driven by rising arrivals at the major trading centres. Arrivals have increased at Nizamabad and Erode centers. In Nizamabad arrivals have risen to 18,000 bags (70 kgs) from 12,000-15,000 bags coming last week. Turmeric yesterday we have seen that market has moved -4%. Market has opened at 11340 & made a low of 10904 versus the day high of 11340. The total volume for the day was at 11460 lots and the open interest was at 7480.Support for turmeric is at 10759 below that could see a test of 10613. Resistance is now seen at 11195 above that could see a resistance of 11485.

Trading Ideas:

Turmeric trading range is 10613-11485.

Turmeric hit the 4 percent lower circuit on profit-booking driven by rising arrivals

Resistance for turmeric is at 10960 and support is at 10840 level.

Yesterday we have seen that open interest fell by 790 and volume fell by 11710 lots.

In Nizamabad arrivals have risen to 18,000 bags from 12,000-15,000 bags

BUY TMC APR ABOVE 11000 SL 10940 TGT 11056-11100-11160-11200.NCDEX