Turmeric yesterday we have seen that market has moved 3.22% on bargain-hunting supported by weak supplies and lower stocks. In Nizamabad, a major spot market in Andhra Pradesh turmeric fell 74.50 rupees to end at 14,568.50 rupees. However, higher sowing of the spice and favorable weather in key cultivating regions, capped gains. Market has opened at 13166 & made a low of 13002 versus the day high of 13650. The total volume for the day was at 7050 lots and the open interest was at 4860. Support for turmeric is at 13179 below that could see a test of 12767. Resistance is now seen at 13827 above that could see a resistance of 14063.

Trading Ideas:

Turmeric trading range is 12770-14066.

Turmeric ended higher on bargain-hunting supported by weak supplies

Turmeric looks to have resistance at 13680 and support is at 13500.

NCDEX accredited warehouses turmeric stocks rose 129 tonnes to 4158 tonnes.

In Nizamabad turmeric spot prices fell 74.50 rupees and settled at 14568.50 rupees per 100 kg