Turmeric hit fresh contract highs on weak arrivals as farmers awaited higher prices, decent domestic demand and stockists buying. Arrivals have declined. Around 10,000-11,000 bags reached Erode market against 15,000 bags last weak. In Nizamabad, a major spot market in Andhra Pradesh, the price surged 1,061 rupees to end at 15,604 rupees. Turmeric yesterday we have seen that market has moved 2.79%. Market has opened at 14990 & made a low of 14990 versus the day high of 15288. The total volume for the day was at 10290 lots and the open interest was at 8380.Support for turmeric is at 14971 below that could see a test of 14831. Resistance is now seen at 15269 above that could see a resistance of 15427.

Trading Ideas:

Turmeric trading range is 14831-15427.

Turmeric hit fresh contract highs on weak arrivals as farmers awaited higher prices

Turmeric looks to have resistance at 15210 and support is at 15080.

Around 10,000-11,000 bags reached Erode market today against 15,000 bags last weak

TMC ABOVE 15000 CAN JUMP TOWARDS 15380-15450 LEVEL.

In Nizamabad spot prices surged 1061 rupees to end at 14,604 rupees per 100 kg.