Turmeric yesterday we have seen that market has moved 2.35%.due to bargain-buying supported by local demand and marginal enquiries from overseas. Rising supplies from the fresh crop in a year when production is estimated to rise is likely to weigh on prices at higher levels. Daily supplies in Nizamabad market have risen to 10,000-12,000 bags of 70 kg each against 7,000-8,000 bags last week. In Nizamabad, a major spot market in AP, the price ended at 11666.65 rupees gained by 156.65 rupees. Market has opened at 9870 & made a low of 9860 versus the day high of 10184. The total volume for the day was at 3145 lots and the open interest was at 6180.Support for turmeric is at 9912 below that could see a test of 9724. Resistance is now seen at 10236 above that could see a resistance of 10372.

Trading Ideas:

Turmeric trading range is 9724-10372.

Turmeric jumped due to bargain-buying supported by local demand

Turmeric is having resistance at 10220 and support at 9980 level.

Daily supplies in Nizamabad market risen to 10,000-12,000 bags against 7,000-8,000 bags last week

In Nizamabad, a major spot market in AP, the price ended at 11666.65 rupees gained by 156.65 rupees.