Turmeric hit fresh contract highs on a decline in arrivals and decent overseas demand. In Nizamabad, a major spot market in Andhra Pradesh, the price dipped 25 rupees to end at 14,413 rupees. Turmeric yesterday we have seen that market has moved 3.24%. Market has opened at 14100 & made a low of 13765 versus the day high of 14515. The total volume for the day was at 25010 lots and the open interest was at 13400.Support for turmeric is at 13994 below that could see a test of 13504. Resistance is now seen at 14744 above that could see a resistance of 15004.

Trading Ideas:

Turmeric trading range is 13476-14976.

Turmeric hit fresh contract highs on a decline in arrivals and decent overseas demand

Turmeric looks to have resistance at 14160 and support is at 14010.

Yesterday we have seen that open interest fell by 750 and volume rose by 9760.

In Nizamabad spot prices fell 25 rupees to end at 14,413 rupees per 100 kg.

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