Turmeric yesterday we have seen that market has moved -0.53% on estimates of higher production and a decline in overseas orders as buyers waited for a fall in prices. Demand has slowed down from overseas as prices went high. Traders hesitate to buy at higher prices because the coming crop is very big. Turmeric arrivals in the Nizamabad mandi was 500bags and arrivals in the Erode mandi dipped to 2,000 bags. In Nizamabad, a major spot market in AP, the price ended at 14772.2 rupees dropped by -200 rupees. Market has opened at 12240 & made a low of 12040 versus the day high of 12240. The total volume for the day was at 330 lots and the open interest was at
3070. Support for turmeric is at 12013 below that could see a test of 11927. Resistance is now seen at 12213 above that could see a resistance of 12327.

Trading Ideas:

Turmeric trading range is 11941-12341.

Turmeric ended weak on estimates of higher production

Turmeric is having resistance at 12213 and support at 12013 level.

NCDEX accredited warehouses turmeric stocks fell 358 tonnes to 4647 tonnes.

In Nizamabad, a major spot market in AP, the price ended at 14772.2 rupees dropped by -200 rupees.