Turmeric yesterday we have seen that market has moved 0.24% on good demand from local traders in spot market amid weak supplies and lower stocks. Daily average arrivals at the Nizamabad market have come down to 500 bags against 1,000-1,500 bags during the first week of August. However, higher sowing in key turmeric cultivating regions restricted the upside. In Nizamabad, a major spot market in Andhra Pradesh, the price ended at 14460 rupees dropped by -160 rupees. Market has opened at 13104 & made a low of 13050 versus the day high of 13288. The total volume for the day was at 2960 lots and the open interest was at 6960.Support for turmeric is at 13049 below that could see a test of 12931. Resistance is now seen at 13287 above that could see a resistance of 13407.

Trading Ideas:

Turmeric trading range is 12931-13407.

Turmeric ended positive on good demand amid weak supplies

Turmeric looks to have resistance at 13280 and support is at 13050.

NCDEX accredited warehouses turmeric stocks rose 129 tonnes to 4597 tonnes

In Nizamabad, a major spot market in Andhra Pradesh, the price ended at 14460 rupees dropped by -160 rupees.