Turmeric yesterday we have seen that market has moved 3.71% as domestic and overseas demand amid short supply prompted buying. Demand is good from both local and overseas buyers. Export demand from Dubai is likely to pick up in coming days. In October 2010, India's turmeric exports were 3,500 tonnes as compared to 3,975 tonnes a year ago. In Nizamabad, a major spot market in AP, the price ended at 16052.5 rupees gained by 232.5 rupees. Market has opened at 15300 & made a low of 15222 versus the day high of 15794. The total volume for the day was at 4450 lots and the open interest was at 5800.Support for turmeric is at 15383 below that could see a test of 15017. Resistance is now seen at 15955 above that could see a resistance of 16161.

Trading Ideas:

Turmeric trading range is 15017-16161.

Turmeric ended higher as domestic and overseas demand amid short supply prompted buying

Turmeric is having resistance at 15900 and support at 15620 level.

NCDEX accredited warehouses turmeric stocks fell 55 tonnes to 3644 tonnes.

In Nizamabad, a major spot market in AP, the price ended at 16052.5 rupees gained by 232.5 rupees.