Turmeric yesterday we have seen that market has moved 0.76% buoyed by firm demand and low stocks at the spot market. However, increase in area under spices, capped gains. Area under turmeric in southern states of Andhra Pradesh and Karnataka have risen 21.5 percent and 19 percent respectively in 2010/11 as the spice gave higher returns last year. Market has opened at 13540 & made a low of 13400 versus the day high of 13600. The total volume for the day was at 1255 lots and the open interest was at 3315.Support for turmeric is at 13460 below that could see a test of 13330. Resistance is now seen at 13660 above that could see a resistance of 13730.

Trading Ideas:

Turmeric trading range is 13330-13730.

Turmeric ended higher buoyed by firm demand and low stocks

Turmeric looks to have resistance at 13660 and support is at 13460.

NCDEX accredited warehouses pepper stocks remained at 3201 tonnes.

In Nizamabad turmeric spot prices settled at 15086 rupees per 100 kg