Turmeric hit fresh contract highs on encouraging overseas demands, limited supply and local demand. In Nizamabad, a major spot market in Andhra Pradesh, the price dropped 13 rupees to end at 15,527 rupees. Turmeric yesterday we have seen that market has moved 4%. Market has opened at 14699 & made a low of 14530 versus the day high of 15334. The total volume for the day was at 8600 lots and the open interest was at 7750.Support for turmeric is at 14798 below that could see a test of 14262. Resistance is now seen at 15602 above that could see a resistance of 15870.

Trading Ideas:

Turmeric trading range is 14262-15870.

Turmeric hit fresh contract highs on encouraging overseas demands

Turmeric looks to have resistance at 15420 and support is at 15260.

Yesterday we have seen that open interest rose by 310 and volume fell by 2570

BUY TMC JUNE @ 15200 SL 15120 TGT 15260-15360.NCDEX

In Nizamabad spot prices dropped 13 rupees to end at 15527 rupees per 100 kg.