Turmeric fell due to sluggish demand and a likely rise in output as farmers in southern and western India expanded acreage under the spice. Turmeric arrivals usually start in mid-January in small quantities and gain momentum from March. The peak season runs till June.

In the spot market in Nizamabad prices fell by 59 rupees to 10,232 rupees per 100 kg. Turmeric yesterday we have seen that market has moved -0.65%. Market has opened at 7050 & made a low of 6930 versus the day high of 7070. The total volume for the day was at 8190 lots and the open interest was at 13450. Support for turmeric is at 6940 below that could see a test of 6865. Resistance is now seen at 7080 above that could see a resistance of 7145.

Trading Ideas:

TURMERIC TRADING RANGE IS 6700-7300.

TURMERIC FELL DUE TO SLUGGISH DEMAND AND A LIKELY RISE IN OUTPUT

NOW RESIST IS AT 7090 AND SUPPORT WILL BE AT 6910.

IN NIZAMABAD SPOT MARKET FELL BY 59 RUPEES TO 10232 RUPEES PER 100 KG

SELL TURMERIC APR BELOW 7000 SL 7122 TGT 6945-6890-6820. NCDEX