Commodity Trading Tips for Turmeric by KediaCommodity

Turmeric yesterday we have seen that market has moved 1.26% onbargain buying after a recent sell-off. Suppliesfrom the new season crop have been rising continuously in the spot market after farmers expanded area, lured by higher prices last season. In Nizamabad, amajor spot market in AP, the price ended at 10230 rupees dropped by -133.35 rupees. Market has opened at 9982 & made a low of 9920 versus the day high of 10218. The total volume for the day was at 4090 lots and the open interest was at 6900. Support for turmeric is at 9870 below that could see a test of 9746. Resistance is now seen at 10168 above that could see a resistance of 10342.

Trading Ideas:

Turmeric trading range is 9746-10342.

Turmeric gained on bargain buying after a recent sell-off

Turmeric is having resistance at 10168 and support at 9870 level.

Supplies from the new season crop have been rising continuously in the spot market

In Nizamabad, a major spot market in AP, the price ended at 10230 rupees dropped by -133.35 rupees.

(Source: http://www.topnews.in/commodity-trading-tips-turmeric-kediacommodity-2320938)