Turmeric which were trading at a discount to the spot market, hit the upper circuit for a third straight day on dwindling stockpiles. Futures are in discount to spot. They are trying to bridge the wider gap. In Nizamabad spot market the price rose by 493 rupees to 10462.90 rupees per 100 kg.

Turmeric yesterday we have seen that market has moved 4%. Market has opened at 9633 & made a low of 9633 versus the day high of 9822. The total volume for the day was at 1710 lots and the open interest was at 13630. Support for turmeric is at 9696 below that could see a test of 9570. Resistance is now seen at 9885 above that could see a resistance of 9948.

Trading Ideas:

TURMERIC TRADING RANGE IS 9400-10200.

TURMERIC HIT THE UPPER CIRCUIT FOR A THIRD STRAIGHT DAY ON DWINDLING STOCKPILES

BULL RUN OVER AGAIN TODAY MORNING TOWARDS CIRCUIT BUT EVE AGAIN DOWN BE ALERT

NOW RESISTANCE IS AT 9940 AND SUPPORT IS AT 9695 LEVEL.

IN NIZAMABAD SPOT MARKET PRICE ROSE BY 493 RUPEES TO 10462.90 RUPEES PER 100 KG