Turmeric ended higher tracking the spot market, where prices were holding ground despite rising arrivals on depleting stocks.

In Nizamabad prices on Friday dropped 346 rupees to end at 11,376 rupees after rising nearly 28 percent in the last two weeks till Thursday's close.

Turmeric yesterday we have seen that market has moved 3.62%. Market has opened at 11343 & made a low of 11343 versus the day high of 11565.

The total volume for the day was at 3860 lots and the open interest was at 10910.Support for turmeric is at 11417 below that could see a test of 11269.

Resistance is now seen at 11639 above that could see a resistance of 11713.

Trading Ideas:

Turmeric trading range is 11269-11713.
Turmeric ended higher tracking spot market despite rising arrivals on depleting stocks
Resistance for turmeric is at 11620 and support is at 11480 level.
Yesterday we have seen that open interest fell by 190 and volume fell by 23380 lots.
In spot prices rose nearly 28% in last 2 weeks to 11,376 rupees per 100 kg
TURMERIC A JUMP TILL 11850 CAN BE SEEN WILL WAIT TO TAKE POSITION

Courtesy: Kedia Commodities

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