Turmeric yesterday we have seen that market has moved -1.14% on profit-taking. Demand is very good at present prices can move up further in the next one month. A rally in prices could be limited on higher output estimates. In Nizamabad, a major spot market in AP, the price ended at 15340.9 rupees gained by 230.4 rupees. Market has opened at 12902 & made a low of 12690 versus the day high of 12946. The total volume for the day was at 3585 lots and the open interest was at 9170. Support for turmeric is at 12667 below that could see a test of 12551. Resistance is now seen at 12923 above that could see a resistance of 13063.

Trading Ideas:

Turmeric trading range is 12551-13063.

Turmeric yesterday ended weak on profit-taking

Turmeric is having resistance at 12923 and support at 12667 level.

NCDEX accredited warehouses turmeric stocks rose 125 tonnes to 4838 tonnes.

In Nizamabad, a major spot market in AP, the price ended at 15337.5 rupees gained by 227 rupees.