Turmeric yesterday we have seen that market has moved -0.74% on poor spot demand and good progress of the monsoon, which arrived in Kerala. Spot demand has come down as traders are expecting further softness in prices. In Nizamabad, a major spot market in Andhra Pradesh, the price dropped 30 rupees to end at 14,636 rupees. Market has opened at 14291 & made a low of 14185 versus the day high of 14400. The total volume for the day was at 2190 lots and the open interest was at 3750.Support for turmeric is at 14140 below that could see a test of 14055. Resistance is now seen at 14355 above that could see a resistance of 14485.

Trading Ideas:

Turmeric trading range is 14005-14851.

Turmeric softened on poor spot demand and good progress of the monsoon

Spot demand has come down as traders are expecting further softness in prices

Turmeric looks to have resistance at 14355 and support is at 14140.

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

In Nizamabad spot prices fell 30 rupees and settled at 14636 rupees per 100 kg.