Turmeric yesterday we have seen that market has moved 0.05% due to prospects of higher production with increase in acreage in key cultivating regions, favourable weather and slack overseas demand. Estimates of higher production are putting pressure on prices. Stockists' participation is also poor as the market is expecting further fall in prices. In Nizamabad, a major spot market in AP, the price ended at 13642.1 rupees dropped by -2.35 rupees. Market has opened at 12114 & made a low of 12072 versus the day high of 12190. The total volume for the day was at 2110 lots and the open interest was at 6470.Support for turmeric is at 12065 below that could see a test of 12009. Resistance is now seen at 12183 above that could see a resistance of 12245.

Trading Ideas:

Turmeric trading range is 12009-12245.

Turmeric ended positive due to prospects of higher production with increase in acreage

Turmeric looks to have resistance at 12180 and support is at 12065.

Stockists' participation is also poor as the market is expecting further fall in prices

In Nizamabad, a major spot market in AP, the price ended at 13642.1 rupees dropped by -2.35 rupees.