Turmeric yesterday we have seen that market has moved 0.3% supported by interest from overseas buyers, good local demand and restricted arrivals. There are no rains in our area from last 15 days. Till date only 40-50 percent of the sowing is completed. In Nizamabad spot market, turmeric ended at 14,902.50 rupees. Turmeric exports in April 2010, gained 13 percent to 5,300 tonnes on year, the Spices Board said. Market has opened at 14410 & made a low of 14410 versus the day high of 14680. The total volume for the day was at 6155 lots and the open interest was at 10000.Support for turmeric is at 14383 below that could see a test of 14261. Resistance is now seen at 14653 above that could see a resistance of 14801.

Trading Ideas:

Turmeric trading range is 14261-14801.

Turmeric ended firm supported by interest from overseas buyers

Turmeric exports in April 2010, gained 13 percent to 5,300 tonnes on year

Turmeric looks to have resistance at 14650 and support is at 14380.

SELL TMC JULY @ 14640 SL 14690 TGT 14580-14515-14460.NCDEX

In Nizamabad spot prices settled at 14902.50 rupees per 100 kg.