Turmeric yesterday we have seen that market has moved -3.99% on prospects of higher output due to increased sowing in key growing regions and good rainfall. Traders are reluctant to hold buy positions at higher levels on estimates of higher output. In Nizamabad, a major spot market in AP, the price ended at 13868.4 rupees dropped by -81.6 rupees.

Market has opened at 12658 & made a low of 12078 versus the day high of 12718. The total volume for the day was at 4525 lots and the open interest was at 4145. Support for turmeric is at 11865 below that could see a test of 11651. Resistance is now seen at 12505 above that could see a resistance of 12931.

Trading Ideas:

Turmeric trading range is 11651-12931 .

Turmeric ended lower on prospects of higher output

Turmeric looks to have resistance at 12200 and support is at 11960.

Spread between Turmeric OCT & NOV contracts yesterday traded in the range of -558 to -488.

In Nizamabad, a major spot market in AP, the price ended at 13868.4 rupees dropped by -81.6 rupees.