Turmeric hit the lower circuit for the second consecutive session as selling pressure continued on profit-taking. Losses in the coming sessions, however, will be capped by robust spot demand and a supply crunch due to thin carry-forward stocks. In Nizamabad spot market in Andhra Pradesh, the price climbed by over 472 rupees to 10,750.75 rupees per 100 kg.

Turmeric yesterday we have seen that market has moved -3.99%. Market has opened at 10061 & made a low of 9856 versus the day high of 10061. The total volume for the day was at 4960 lots and the open interest was at 12350. Support for turmeric is at 9788 below that could see a test of 9719. Resistance is now seen at 9993 above that could see a resistance of 10129.

Trading Ideas:

TURMERIC TRADING RANGE IS 9500-10100.

TURMERIC HIT THE LOWER CIRCUIT ON SELLING PRESSURE CONTINUED ON PROFIT-TAKING

BUY TMC DEC STRICKLY ABV 9920 SL 9860 TGT 9980-10040-10125-10190. NCDEX

NOW RESISTANCE IS AT 9940 AND SUPPORT IS AT 9788 LEVEL.

IN NIZAMABAD PRICE FELL BY OVER 462 RUPEES TO 10750.75 RUPEES PER 100 KG

TODAY SHORT COVERING CAN BE SEEN