Commodity Outlook for Turmeric by KediaCommodity

TurmericTurmeric ended higher on firm local demand and low stocks. Domestic and exports demand are likely to continue in short-term and that will lead to rise in prices. Turmeric yesterday we have seen that market has moved 0.97%. Market has opened at 10851 & made a low of 10851 versus the day high of 11230. The total volume for the day was at 5740 lots and the open interest was at 5560.Support for turmeric is at 10849 below that could see a test of 10661. Resistance is now seen at 11228 above that could see a resistance of 11419.

Trading Ideas:

Turmeric trading range is 11034-11728.

Turmeric ended higher on firm local demand and low stocks

Resistance for turmeric is at 11490 and support is at 11340 level.

Yesterday we have seen that open interest rose by 310 and volume fell by 2560 lots.

Spread between Turmeric APR & MAY contracts traded in the range of -240 to -172.


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