Commodity Trading Tips for Turmeric by KediaCommodity

Turmeric yesterday we have seen that market has moved 0.14% as lower stocks and reports of delayed arrivals from unseasonal rains in growing areas supported the prices. Besides this, expectations of demand rising in the coming weeks forturmeric also led the speculator enlarge theirpositions in the commodity. However, latest reports from Spice Board of India indicates the expected Turmeric exports for the period April-February have fallen by 9% to 42,500 MT in 2010-11 from 46,575 MT in 2009-10 same period. In Nizamabad, a major spot market in AP, the price ended at 10230 rupees dropped by -133.35 rupees. Market has opened at 10078 & made a low of 9918 versus the day high of 10204. The total volume for the day was at 4375 lots and the open interest was at 6945.Support forturmeric is at 9917 below that could see a test of 9775. Resistance is now seen at 10203 above that could see a resistance of 10347.

Trading Ideas:

Turmeric trading range is 9782-10354.

Turmeric gained as lower stocks and reports of delayed arrivals from unseasonal rains supported the prices

Turmeric is having resistance at 10203 and support at 9917 level.

Turmeric exports for the period April-February have fallen by 9% to 42,500 MT in 2010-11

In Nizamabad, a major spot market in AP, the price ended at 0 rupees dropped by 0 rupees.

(Source: http://www.topnews.in/commodity-trading-tips-turmeric-kediacommodity-2321140)