Turmeric yesterday we have seen that market has moved -1.23% owing to weak local and export demand. Adequate stocks followed by increased arrivals from the producing belts also weighed on the prices. In Nizamabad, a major spot market in Andhra Pradesh, turmeric fell 89 rupees to end at 14,808 rupees. Market has opened at 13726 & made a low of 13434 versus the day high of 13760. The total volume for the day was at 2105 lots and the open interest was at 3630.Support for turmeric is at 13393 below that could see a test of 13251. Resistance is now seen at 13719 above that could see a resistance of 13903.

Trading Ideas:

Turmeric trading range is 13253-13905.

Turmeric ended down owing to weak local and export demand

Turmeric looks to have resistance at 13600 and support is at 13440.

NCDEX accredited warehouses turmeric stocks rose by 130 tonnes to 4029 tonnes.

In Nizamabad turmeric spot prices fell 89 rupees and settled at 14808 rupees per 100 kg