Turmeric yesterday we have seen that market has moved 4.03% supported by rise in export and domestic demand amidst lower stock. Limited arrivals in the spot market have led the sudden rise in prices. Turmeric arrivals in the Nizamabad mandi was steady at 600 bags and arrivals in the Erode were 3,500 bags. In Nizamabad, a major spot market in AP, the price ended at 14992.1 rupees gained by 277.8 rupees. Market has opened at 12520 & made a low of 12242 versus the day high of 12956. The total volume for the day was at 2620 lots and the open interest was at 3885. Support for turmeric is at 12480 below that could see a test of 12004. Resistance is now seen at 13194 above that could see a resistance of 13432.

Trading Ideas:

Turmeric trading range is 12348-13220.

Turmeric ended higher supported by rise in export and domestic demand

Turmeric is having resistance at 13080 and support at 12800 level.

NCDEX accredited warehouses turmeric stocks rose 20 tonnes to 4617 tonnes.

In Nizamabad, a major spot market in AP, the price ended at 14992.1 rupees gained by 277.8 rupees.