Turmeric struck fresh contract highs yesterday on decent overseas and local demand amid restricted arrivals as farmers hope for better prices to sell their produce. Demand is regular and supporting the uptrend in the commodity. In Nizamabad, a major spot market in Andhra Pradesh, the price jumped 542 rupees to 13,654 rupees per 100 kg. Turmeric yesterday we have seen that market has moved 3.65%. Market has opened at 13414 & made a low of 13414 versus the day high of 13850. The total volume for the day was at 19810 lots and the open interest was at 13380.Support for turmeric is at 13546 below that could see a test of 13262. Resistance is now seen at 13982 above that could see a resistance of 14134.

Trading Ideas:

Turmeric trading range is 13262-14134.

Turmeric struck fresh contract highs yesterday on decent overseas and local demand

Turmeric looks to have resistance at 13920 and support is at 13760.

Yesterday we have seen that open interest rose by 430 and volume by 1390.

STILL TMC LOOK FIRM CAN TEST 13950 LEVEL WILL WAIT FOR POSITION

In Nizamabad spot prices rose 542 rupees and ended at 13654 rupees per 100 kg.