Turmeric yesterday we have seen that market has moved -0.3% as hopes of higher acreage and sluggish overseas inquires weighed on sentiment. Turmeric cultivation usually starts in the last week of May and continues till August and a lengthy harvesting process begins from January. Market has opened at 14822 & made a low of 14720 versus the day high of 14930. The total volume for the day was at 4510 lots and the open interest was at 8695.Support for turmeric is at 14719 below that could see a test of 14615. Resistance is now seen at 14929 above that could see a resistance of 15035.

Trading Ideas:

Turmeric trading range is 14615-15035.

Turmeric ended weak as hopes of higher acreage and sluggish overseas inquires

Turmeric looks to have resistance at 14930 and support is at 14720.

Spread between Turmeric AUG & SEP contracts yesterday traded in the range of -396 to -364.

Turmeric cultivation usually starts in the last week of May and continues till August