Turmeric yesterday we have seen that market has moved 1.67% on poor stocks and squeezed supply in the market as farmers held back their produce on hopes of higher prices. In Nizamabad, a major spot market in Andhra Pradesh, the price gained 54 rupees to end at 14,830 rupees. Market has opened at 14770 & made a low of 14620 versus the day high of 15220. The total volume for the day was at 14210 lots and the open interest was at 10210.Support for turmeric is at 14655 below that could see a test of 14338. Resistance is now seen at 15255 above that could see a resistance of 15538.

Trading Ideas:

Turmeric trading range is 14338-15538.

Turmeric moved higher on poor stocks and squeezed supply in the market

Turmeric looks to have resistance at 15020 and support is at 14880.

Yesterday we have seen that open interest fell by 80 and volume by 1780

In Nizamabad spot prices gained 54 rupees and settled at 14830 rupees per 100 kg.

TMC LOOK TO TEST SUPPORT AT 14650 LEVEL, BUYING IS EXPECTED ON SUPPORT.