Turmeric ended steady on sluggish spot demand as traders awaited some correction in prices on hopes of higher acreage and on weak exports. Market may see some correction in prices as both local and overseas demand has come down at higher levels. In Nizamabad spot market, turmeric fell 74.5 rupees to end at 15,578.50 rupees. Market has opened at 15200 & made a low of 14942 versus the day high of 15298. The total volume for the day was at 8195 lots and the open interest was at 8905.Support for turmeric is at 14941 below that could see a test of 14763. Resistance is now seen at 15297 above that could see a resistance of 15475.

Trading Ideas:

Turmeric trading range is 14763-15475.

Turmeric ended steady on sluggish spot demand as traders awaited some correction in prices

Turmeric looks to have resistance at 15220 and support is at 15020.

Yesterday we have seen that open interest rose by 340 and fell by 2775 lots

In Nizamabad spot prices fell 74.50 rupees and settled 15578.50 rupees per 100 kg