Turmeric yesterday we have seen that market has moved 0.42% tracking firm demand in the spot market, where supply was limited but a reviving monsoon that is expected to help sowing and boost output limited the upside. In Nizamabad spot market, turmeric jumped 211 rupees to end at 14,975 rupees. Sowing is good in our area, rains were good in the past week. Market has opened at 14718 & made a low of 14620 versus the day high of 14800. The total volume for the day was at 2430 lots and the open interest was at 6710.Support for turmeric is at 14649 below that could see a test of 14545. Resistance is now seen at 14829 above that could see a resistance of 14905.

Trading Ideas:

Turmeric trading range is 14545-14905.

Turmeric ended positive tracking firm demand in the spot market

Turmeric looks to have resistance at 18630 and support is at 14650.

NCDEX accredited warehouses turmeric stocks rose by 110 tonnes to 2252 tonnes.

BUY TMC AUG @ 14550 SL 14460 TGT 14598-14650-14720.NCDEX

In Nizamabad spot prices gained 211 rupees and settled 14975 rupees per 100 kg