Turmeric yesterday we have seen that market has moved 0.82% as lower supplies and hopes of a pick-up in domestic demand due to festival season, prompted buying. Value buying on hopes of a rise in demand is supporting prices at lower levels. Turmeric output in Andhra Pradesh, the country's top producer, is seen 40 percent up in 2010/11 on expanded area as higher prices lured farmers and on favourable monsoon rains. In Nizamabad, a major spot market in AP, the price ended at 14591.15 rupees dropped by -85.05 rupees. Market has opened at 12578 & made a low of 12452 versus the day high of 12740. The total volume for the day was at 1705 lots and the open interest was at 8640.Support for turmeric is at 12425 below that could see a test of 12295. Resistance is now seen at 12713 above that could see a resistance of 12871.

Trading Ideas:

Turmeric trading range is 12295-12871.

Turmeric ended positive due to lower supplies and hopes of a pick-up in domestic demand

Turmeric is having resistance at 12713 and support at 12425 level.

Turmeric output in Andhra Pradesh is seen 40% up in 2010/11

In Nizamabad, a major spot market in AP, the price ended at 14591.15 rupees dropped by -85.05 rupees.