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Last Updated : February 10, 2010 12:34
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NCDEX turmeric continues to trade higher

MUMBAI (Commodity Online): Turmeric futures continued to trade higher with modest gains as traders indulged to enhance their position at lower levels.

NCDEX turmeric April futures traded in the ranges of Rs 7,201- Rs 7,119 per 100 kg. The counter now quoted at Rs 7,150, up 1.28 percent over the last close. The open interest added 1.26 percent to 23,980 tonnes, indicating fresh buying. The counter gained nearly two percent or Rs 142 per 100 kg at the session high.

Turmeric hit the 4 percent upper circuit late yesterday on low-level buying driven by depleting stocks. In Nizamabad, a major spot market in Andhra Pradesh, the price edged down 4 rupees to 9,951 rupees.

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Poor stocks and lower levels may attract buying in turmeric. Turmeric yesterday we have seen that market has moved 3.68%. Market has opened at 6830 & made a low of 6827 versus the day high of 7059.

The total volume for the day was at 15340 lots and the open interest was at 23720.Support for tmc is at 6904 below that could see a test of 6750. Resistance is now seen at 7136 above that could see a resistance of 7214.
MCX Mentha Oil 29 February 2012 contract was trading at Rs 1306.9 , up Rs. 10.1 . What's your view on it?
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shubham aggarwal.  Posted On : May 19, 2010 9:37 PM
to disscuss the tmc