Turmeric yesterday we have seen that market has moved 2.77% on firm spot demand on enquiries from traders in the Gulf countries amid poor supplies but prospects of increased output prompted selling at higher levels. Domestic demand is also gaining pace and this may support prices. In Nizamabad, a major spot market in AP, the price ended at 13950 rupees gained by 345.25 rupees. Market has opened at 12536 & made a low of 12322 versus the day high of 12782. The total volume for the day was at 6630 lots and the open interest was at 4495.Support for turmeric is at 12374 below that could see a test of 12118. Resistance is now seen at 12834 above that could see a resistance of 13038.

Trading Ideas:

Turmeric trading range is 12118-13038.

Turmeric ended positive on firm spot demand on enquiries from traders in the Gulf countries

Turmeric looks to have resistance at 12830 and support is at 12375.

Domestic demand is also gaining pace and this may support prices.

In Nizamabad, a major spot market in AP, the price ended at 13950 rupees gained by 345.25 rupees.