Turmeric yesterday we have seen that market has moved -0.54% weighed by weakening export demand and estimates of higher production. Estimates of higher production are weighing on sentiment. Turmeric output in Andhra Pradesh, the country's top producer, is seen 40 percent up in 2010/11 on expanded area as higher prices lured farmers and on favourable monsoon rains. In Nizamabad, a major spot market in AP, the price ended at 14832.5 rupees gained by 124.2 rupees. Market has opened at 13050 & made a low of 12876 versus the day high of 13076. The total volume for the day was at 2415 lots and the open interest was at 8845.Support for turmeric is at 12839 below that could see a test of 12757. Resistance is now seen at 13039 above that could see a resistance of 13157.

Trading Ideas:

Turmeric trading range is 12757-13157.

Turmeric ended weak weighed by weak export demand and estimates of higher production

Turmeric is having resistance at 13039 and support at 12839 level.

NCDEX accredited warehouses turmeric stocks rose 24 tonnes to 4552 tonnes.

In Nizamabad, a major spot market in AP, the price ended at 14832.5 rupees gained by 124.2 rupees.