Turmeric yesterday we have seen that market has moved 4.25% buoyed by local demand amid poor supplies and some export enquiries. Domestic demand is expected to be strong during the ongoing festival season. In Nizamabad, a major spot market in AP, the price ended at 13968.4 rupees gained by 277.95 rupees. Market has opened at 12698 & made a low of 12600 versus the day high of 13112. The total volume for the day was at 7095 lots and the open interest was at 8405.Support for turmeric is at 12771 below that could see a test of 12429. Resistance is now seen at 13283 above that could see a resistance of 13453.

Trading Ideas:

Turmeric trading range is 12429-13453.

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.

NCDEX accredited warehouses turmeric stocks fell 10 tonnes to 4508 tonnes.

In Nizamabad, a major spot market in AP, the price ended at 13968.4 rupees gained by 277.95 rupees.