Turmeric yesterday we have seen that market has moved 1.72% on the back of firm global sentiment, also some export queries from mid-east Asian countries have been noted. Meanwhile, moderate domestic demand too has been there. Stockists reportedly held back their stocks in anticipation of a rising demand in coming days. Fresh arrival in expected to reach the market from March onwards and production is expected around 65 lakh bags compared with 45 lakh bags in the last year. In Nizamabad, a major spot market in AP, the price ended at 14661.1 rupees dropped by -72.2 rupees. Market has opened at 12050 & made a low of 11750 versus the day high of 12306. The total volume for the day was at 2370 lots and the open interest was at 2795.Support for turmeric is at 11917 below that could see a test of 11555. Resistance is now seen at 12473 above that could see a resistance of 12667.

Trading Ideas:

Turmeric trading range is 11557-12669.

Turmeric ended higher on the back of firm global sentiment

Turmeric is having resistance at 12400 and support at 12150 level.

Fresh arrival in expected to reach market from March onwards

In Nizamabad, a major spot market in AP, the price ended at 14661.1 rupees dropped by -72.2 rupees.