Turmeric yesterday we have seen that market has moved 4.01% due to bargain buying and poor supplies in the spot market. However, the gain is likely to be limited due to estimates of higher production with a rise in sowing in the key cultivating regions. In Nizamabad, a major spot market in AP, the price ended at 13644.45 rupees gained by 6.35 rupees. Market has opened at 11898 & made a low of 11800 versus the day high of 12290. The total volume for the day was at 6180 lots and the open interest was at 5230. Support for turmeric is at 11963 below that could see a test of 11637. Resistance is now seen at 12453 above that could see a resistance of 12617.

Trading Ideas:

Turmeric trading range is 11637-12617.

Turmeric ended higher due to bargain buying and poor supplies in the spot market

Turmeric looks to have resistance at 12450 and support is at 12150.

NCDEX accredited warehouses turmeric stocks rose 10 tonnes to 4538 tonnes.

In Nizamabad, a major spot market in AP, the price ended at 13644.45 rupees gained by 6.35 rupees.