Turmeric yesterday we have seen that market has moved -1.29% on advancement of monsoon in the country and on poor demand from the local market. Domestic demand is weak as monsoon is weighing on sentiment. In Nizamabad, a major spot market in Andhra Pradesh, the price dropped 100 rupees to end at 14,584 rupees. Market has opened at 14270 & made a low of 14062 versus the day high of 14350. The total volume for the day was at 1830 lots and the open interest was at 4110. Support for turmeric is at 13995 below that could see a test of 13884. Resistance is now seen at 14283 above that could see a resistance of 14460.

Trading Ideas:

Turmeric trading range is 13889-14465.

Turmeric ended down on poor demand from the local market

Turmeric looks to have resistance at 14180 and support is at 14000.

NCDEX accredited warehouses turmeric stocks rose 20 tonnes to 577 tonnes.

WAIT FOR FRESH ENTRY BELOW 14400 LOOK WEAK TO TEST 14000 LEVEL.

In Nizamabad spot prices fell 100 rupees and settled at 14584 rupees per 100 kg.