Turmeric expected to trade on positive note

Turmeric trading range for the day is 3776-4032. Support for Turmeric is at 3846 below that could see a test of 3776. Resistance is now seen at 3974 above that could see a resistance of 4032. Market has opened at 3870 and made a low of 3834 versus the day high of 3962. The total volume for the day was at 19065 lots and the open interest was at 39605.

Turmeric prices are expected to trade on positive note on back of declining arrival across the spot markets. Prices are spot market of Erode are now making a high of Rs. 4000/ quintal on daily basis. Good quality arrivals are keeping prices firm. However, no fresh reports have come regarding procurement from TANFED which might limit huge gains in Turmeric prices.

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