The Turmeric futures extended the previous trading sessions loss. Technically the contract was in the extreme over bought zone. The contract is currently witnessing technical correction from the over bought zone.

The NCDEX Turmeric futures benchmark Aug 08 contract trades at Rs4178 per Quintal, after trading as low as Rs4152, down Rs48 per Quintal. The contract pared Rs 22 or 0.52 percent during the session and dropped 0.17 percent in the open interest, which stood at 28070 lots as against 28120 lots yesterday, indicating profit taking.

The NCDEX Turmeric futures near month Jun 08 contract trades at Rs3905 per Quintal, after trading as low as Rs3866 per Quintal. The contract declined by Rs 5 or0.13 percent during the session and added 0.14 percent in the open interest, which stood at 20860 lots as against 20830 lots yesterday, indicating short selling.

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