India : Turmeric gains on export demand.

Date:	12-03-2010
Subject:	India : Turmeric gains on export demand
AHMEDABAD : Turmeric April contract has moved up by 4% on NCDEX this morning. Turmeric opened at 9365 and hit upper circuit with high of 9551. Total volume for the day is around 9380 lots and open interest is around 22610 lots. “Technically, Resistance for Turmeric can be seen at 10450," said Hardik Shah, Sr. Commodity Analyst with Commodity Online. Turmeric April contract has increased from 7425 to 9551 per quintal in last 15 trading days. 14 days RSI for turmeric is at 75 and it is increasing continuously due to heavy buying. "One can buy Turmeric at 9450 a stop loss of 9300 target of 9800," said Shah. Source : Commodity Online

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