Turmeric April futures prices are expected to trade positive amid rising demand across the spot markets. Traders at Erode market have received fresh orders from Gujarat and Kolkata.
Therefore, bulk buying activity is expected from traders for fulfilling these fresh orders which might support the prices to remain firm.
Limited arrivals of fine quality Salem variety are also supporting prices as demand for fresh Salem variety is good at spot market
Farmers might increase supply at spot market to 10,000 bags from next week which might weigh on prices in near term
Arrivals as Erode market reported around 8000 bags against 7000bags (1 bag=70Kg.). Despite of increased arrivals strong demand from masala buyers pushed the prices on higher side
According to derivative analysis, prices, volumes and open interest have increased. It is a good indication that market is attracting larger numbers of traders who are willing to open positions from the long side and hold them
Turmeric NCDEX Apr-12 support: 4597 4644 resistance: 4737 4774 Buy at 4680 TP 4780 SL 4610
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