Turmeric hit fresh contract highs yesterday on export demand from Dubai and domestic enquiries. Prices may gain further as good orders are placed by the overseas buyers. In Nizamabad, a major spot market in Andhra Pradesh, the price gained 94 rupees to 12,186 rupees per 100 kg. Turmeric yesterday we have seen that market has moved 3.8%. Market has opened at 12140 & made a low of 12099 versus the day high of 12625. The total volume for the day was at 17830 lots and the open interest was at 12000.Support for turmeric is at 12258 below that could see a test of 11915. Resistance is now seen at 12784 above that could see a resistance of 12967.

Trading Ideas:

Turmeric trading range is 11915-12967.

Turmeric hit fresh contract highs on export demand from Dubai and domestic enquiries

Turmeric looks to have resistance at 12530 and support is at 12680.

Yesterday we have seen open interest has rose by 1050 and volume by 2830.

In Nizamabad spot pries rose by 94 rupees to 12186 rupees per 100kg.

BUY TMC MAY @ 12480 SL 12440 TGT 12540-12590. NCDEX