Turmeric yesterday we have seen that market has moved -0.11% as higher area under the spice weighed but poor stocks and declining arrivals as farmers chose to hold back their produce for better prices supported the prices. In Nizamabad, a major spot market in Andhra Pradesh, turmeric inches up 3 rupees to end at 15,097 rupees. Market has opened at 14230 & made a low of 14138 versus the day high of 14260. The total volume for the day was at 1060 lots and the open interest was at 2720.Support for turmeric is at 14127 below that could see a test of 14071. Resistance is now seen at 14249 above that could see a resistance of 14315.

Trading Ideas:

Turmeric trading range is 14071-14315.

Turmeric ended weak as higher area under the spice weighed

Turmeric looks to have resistance at 14250 and support is at 14130.

NCDEX accredited warehouses turmeric stocks rose by 10 tonnes to 3201 tonnes.

In Nizamabad turmeric spot prices inched up 3 rupees  and settled at 15097 rupees per 100 kg