Turmeric yesterday we have seen that market has moved -0.5% on profit-booking after prices rose in the last two sessions on hopes of higher sowing. Sowing is good in our area. Area under the spice may rise significantly this year. In Nizamabad spot market, turmeric gained 286 rupees to end at 15,518 rupees per 100 kg. Market has opened at 14848 & made a low of 14660 versus the day high of 14848. The total volume for the day was at 5765 lots and the open interest was at 7985.Support for turmeric is at 14624 below that could see a test of 14548. Resistance is now seen at 14812 above that could see a resistance of 14924.

Trading Ideas:

Turmeric trading range is 14548-14924.

Turmeric ended weak on profit-booking after prices rose in last two sessions

Turmeric looks to have resistance at 14810 and support is at 14620.

Spread between Turmeric AUG & SEP contracts yesterday traded in the range of -350 to -256.

In Nizamabad spot prices gained 286 rupees and settled 15518 rupees per 100 kg