Turmeric yesterday we have seen that market has moved -0.29% as good rains in the major cultivating regions raised hopes of better crop, sluggish overseas inquires and weak spot demand.  Rains were good during the sowing period. Hopes of higher output is putting pressure on prices. In Nizamabad, turmeric fell 120 rupees to end at 15,115 rupees. Market has opened at 14352 & made a low of 14274 versus the day high of 14498. The total volume for the day was at 4330 lots and the open interest was at 8110.Support for turmeric is at 14263 below that could see a test of 14157. Resistance is now seen at 14487 above that could see a resistance of 14605.

Trading Ideas:

Turmeric trading range is 14157-14605.

Turmeric ended weak as good rains in cultivating regions raised hopes of better crop

Turmeric looks to have resistance at 14490 and support is at 14265.

Yesterday we have seen that open interest rose by 90 and volume fell by 3620 lots

In Nizamabad spot prices fell 120 rupees and settled at 15115 per 100 kg