Turmeric yesterday we have seen that market has moved -1.82% tracking weak spot demand and good progress of the monsoon which arrived in Kerala. Both overseas and local demand has come down. Turmeric sowing is in process and timely and distributed rains may accelerate the sowing operations. In Nizamabad, a major spot market in Andhra Pradesh, the price dropped 147 rupees to end at 14,666 rupees. Market has opened at 14425 & made a low of 14265 versus the day high of 14688. The total volume for the day was at 4210 lots and the open interest was at 3630.Support for turmeric is at 14167 below that could see a test of 14005. Resistance is now seen at 14590 above that could see a resistance of 14851.

Trading Ideas:

Turmeric trading range is 14005-14851.

Turmeric ended weak tracking weak spot demand and good progress of monsoon

Turmeric sowing is in process and timely and distributed rains may accelerate sowing operations

Turmeric looks to have resistance at 14420 and support is at 14240.

In Nizamabad spot prices fell 147 rupees and settled at 14666 rupees per 100 kg.

TMC BELOW 14500 LOOK TO TEST 14100 LEVEL WAIT FOR FRESH ENTRY.