Turmeric yesterday we have seen that market has moved -0.74% on slack domestic demand and hopes of normal monsoon rains. Buyers are on the sidelines as they are expecting further correction in the market. Forecast of normal monsoon is also weighing on sentiment. In Nizamabad, a major spot market in Andhra Pradesh, price to ended at 14,676 rupees. Market has opened at 14330 & made a low of 14085 versus the day high of 14369. The total volume for the day was at 2370 lots and the open interest was at 3990.Support for turmeric is at 14110 below that could see a test of 13956. Resistance is now seen at 14394 above that could see a resistance of 14524.

Trading Ideas:

Turmeric trading range is 13956-14524.

Turmeric ended down on slack domestic demand and hopes of normal monsoon rains

Turmeric looks to have resistance at 14400 and support is at 14110.

Yesterday we have seen that open interest rose by 30 and volume by 710

In Nizamabad spot prices settled at 14676 rupees per 100 kg.

SELL TMC JULY @ 14400 SL 14475 TGT 14340-14280-14220.NCDEX