Turmeric yesterday we have seen that market has moved 1.74% on short-covering after losing nearly 4 percent in as many sessions and on a decline in supply. Arrivals are declining. Around 6,000 bags (70 kgs) reached Erode market on Wednesday against 10,000 bags yesterday.

In Nizamabad, a major spot market in Andhra Pradesh, the price gained 62 rupees to end at 14,698 rupees. Market has opened at 14350 & made a low of 14313 versus the day high of 14550. The total volume for the day was at 2510 lots and the open interest was at 3730. Support for turmeric is at 14342 below that could see a test of 14209. Resistance is now seen at 14579 above that could see a resistance of 14683. Trading Ideas: Turmeric trading range is 14209-14683.

Turmeric ended positive on short-covering and on a decline in supply Turmeric looks to have resistance at 14580 and support is at 14340. Yesterday we have seen that open interest by fell 20 and volume rose by
320 In Nizamabad spot prices gained 61 rupees and settled at 14697 rupees per 100 kg. SELL TMC JULY BELOW 14400 SL 14475 TGT 14340-14280-14220. NCDEX