Turmeric yesterday we have seen that market has moved 4.01% as a squeeze in supplies and some export enquiries sparked buying. Hopes of a pick-up in domestic demand during the ongoing festival season also supported the upside. Local demand is also likely to gain pace in the festival season. In Nizamabad, a major spot market in AP, the price ended at 13666.65 rupees gained by 24.55 rupees. Market has opened at 12130 & made a low of 12130 versus the day high of 12606. The total volume for the day was at 7125 lots and the open interest was at 7350.Support for turmeric is at 12289 below that could see a test of 11971. Resistance is now seen at 12765 above that could see a resistance of 12923.

Trading Ideas:

Turmeric trading range is 11971-12923.

Turmeric ended higher as squeeze in supplies and some export enquiries sparked buying

Turmeric looks to have resistance at 12765 and support is at 12480.

Local demand is also likely to gain pace in the festival season.

In Nizamabad, a major spot market in AP, the price ended at 13690.45 rupees gained by 48.35 rupees.