Turmeric yesterday we have seen that market has moved -0.34% on continued profit-booking driven by hopes of higher sowing this season on forecast of normal monsoon and some slowdown in the overseas inquiries. Overseas inquiries have slowed down at these levels. Traders are waiting for the prices to come down. In Nizamabad, a major spot market in Andhra Pradesh, the price ended at 15,020 rupees. Market has opened at 14620 & made a low of 14310 versus the day high of 14620. The total volume for the day was at 6310 lots and the open interest was at 9230.Support for turmeric is at 14367 below that could see a test of 14183. Resistance is now seen at 14677 above that could see a resistance of 14803.

Trading Ideas:

Turmeric trading range is 14159-14779.

Turmeric ended down on continued profit-booking driven by hopes of higher sowing this season

Turmeric looks to have resistance at 14680 and support is at 14440.

NCDEX accredited warehouses turmeric stocks rose 110 tonnes to 1284 tonnes.

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In Nizamabad spot prices settled at 15020 rupees per 100 kg.