Turmeric ended up over 3 percent on depleting stocks as well as demand after a 3-day drop in prices. Prices of the commodity fell over 2 percent in the past three trading sessions after rising over 41 percent since the start of the month. The Nizamabad spot market is shut till April 4 on account of financial year ending. Turmeric yesterday we have seen that market has moved 3.45%. Market has opened at 10563 & made a low of 10518 versus the day high of 10979. The total volume for the day was at 6310 lots and the open interest was at 5690.Support for turmeric is at 10640 below that could see a test of 10349. Resistance is now seen at 11101 above that could see a resistance of 11271.

Trading Ideas:

Turmeric trading range is 10349-11271.

Turmeric ended lower on profit-taking after rising over 41% in March

Resistance for turmeric is at 10510 and support is at 10660 level.

Yesterday we have seen that open interest fell by 180 and volume fell by 2720 lots.

Spread between Turmeric APR & MAY contracts traded in the range of -165 to -30.

TURMERIC ABOVE 11000 LOOK TO TEST 11250 LEVEL.