Turmeric yesterday we have seen that market has moved -0.13% as higher sowing in the key cultivating regions and favourable weather weighed on prices. But some improvement in spot demand amid lower arrivals and dwindling stocks supported buying limited the losses. Fresh buying as well as short covering is seen in turmeric. In Nizamabad, a major spot market in Andhra Pradesh, turmeric gained 40 rupees to end at 14,897 rupees. Market has opened at 13720 & made a low of 13590 versus the day high of 13750. The total volume for the day was at 1235 lots and the open interest was at 3475.Support for turmeric is at 13585 below that could see a test of 13507. Resistance is now seen at 13745 above that could see a resistance of 13827.

Trading Ideas:

Turmeric trading range is 13521-13841.

Turmeric ended down as higher sowing and favourable weather weighed on prices

Turmeric looks to have resistance at 13745 and support is at 13585.

NCDEX accredited warehouses turmeric stocks rose by 240 tonnes to 3899 tonnes.

In Nizamabad turmeric spot prices gained 40 rupees and settled at 14897 rupees per 100 kg