MUMBAI (Commodity Online): Turmeric futures witnessed a moderate rise Monday in the morning trade on higher demand for the yellow spice in the spot market amid restricted supply.

NCDEX turmeric April futures on moved in the range of Rs 9988-Rs 9591 per 100 kg. The contract surged 3.53 percent at the session high. The counter now quotes at Rs 9806, up 1.64 percent over last close and the open interest added 1.96 percent to 14,600 tonnes, indicating fresh buying.

Turmeric ended down towards 2% lower circuit on Saturday on heavy profit booking after rising heavily last few days. Turmeric prices were getting support on bullish cues from the physical market, where traders are accumulating on a likely rise in demand and on depleting carry-forward stocks.

Trade sitting at the comfort of home. Start with a mere 50$

In Nizamabad spot market, prices settled at 9,640 rupees per 100 kg. Turmeric yesterday we have seen that market has moved -2.88%. Market has opened at 10011 & made a low of 9540 versus the day high of 10038.

The total volume for the day was at 26220 lots and the open interest was at 14320.Support for turmeric is at 9446 below that could see a test of 9244. Resistance is now seen at 9944 above that could see a resistance of 10240.

Post your comment  (0)

Connect:

Post to Twitter

Post to Facebook