Turmeric yesterday we have seen that market has moved 1.2% on bargain buying after losing more than 4 percent in the last two sessions and on a decline in daily arrivals in spot. Daily arrivals have steadied in the range of 5,000-6,000 bags in Erode.  In Nizamabad, a major spot market in Andhra Pradesh, turmeric fell 23 rupees to 15,010 rupees per 100 kg. Market has opened at 14700 & made a low of 14660 versus the day high of 14942. The total volume for the day was at 10560 lots and the open interest was at 8505.Support for turmeric is at 14675 below that could see a test of 14527. Resistance is now seen at 14957 above that could see a resistance of 15091.

Trading Ideas:

Turmeric trading range is 14696-14936.

Turmeric ended positive on bargain buying and on a decline in daily arrivals in spot

Turmeric looks to have resistance at 14960 and support is at 14710.

NCDEX accredited warehouses turmeric stocks rose 149 tonnes to 1154 tonnes.

BUY TURMERIC JULY ABV 14960 SL 14900 TGT 15000-15070-15140.NCDEX

In Nizamabad spot prices fell 65 rupees and settled at 14968 rupees per 100 kg.