Turmeric yesterday we have seen that market has moved 0.39% supported by a pick-up in domestic and export demand, while restricted supplies also added to the rise. Traders are not releasing the stocks as they are expecting a further jump in prices in the coming days. Domestic demand is good and is likely to remain firm. In Nizamabad, a major spot market in AP, the price ended at 14618.4 rupees gained by 75.9 rupees. Market has opened at 12736 & made a low of 12716 versus the day high of 13044. The total volume for the day was at 5700 lots and the open interest was at 11670.Support for turmeric is at 12716 below that could see a test of 12552. Resistance is now seen at 13044 above that could see a resistance of 13208.

Trading Ideas:

Turmeric trading range is 12552-13208.

Turmeric ended weak due to profit-taking and estimates of higher production

Turmeric is having resistance at 13000 and support at 12720 level.

Turmeric output in AP is seen 40 percent up in 2010/11 on expanded area

In Nizamabad, a major spot market in AP, the price ended at 14618.4 rupees gained by 75.9 rupees.