Commodity Outlook for Turmeric by KediaCommodity
Turmeric ended higher on some low-level buying after a 5 percent fall in the two days, and on a supply squeeze as farmers waited for better prices to sell their produce. Demand in spot market has come down as traders fear more fall in the prices. In Nizamabad spot market the price dropped 156 rupees to end at 12,256 rupees. Turmeric yesterday we have seen that market has moved 0.51%. Market has opened at 11916 & made a low of 11870 versus the day high of 12225. The total volume for the day was at 17300 lots and the open interest was at 12750.Support for turmeric is at 11877 below that could see a test of 11696. Resistance is now seen at 12232 above that could see a resistance of 12406. Turmeric trading range is 11696-12406.
Turmeric ended higher on some low-level buying
Demand in spot market has come down as traders fear more fall in the prices
Turmeric looks to have resistance at 12110 and support is at 12000.
BUY TURMERIC MAY ABV 12100 SL 12040 TGT 12160-12222.NCDEX
In Nizamabad spot prices dropped 156 rupees to end at 12,256 rupees per 100 kg.