Turmeric yesterday we have seen that market has moved 4.01%  lead by strong buying support amid lower arrivals in the mandies and anticipation of export and festive demand in near term. Turmeric stocks with the stockiest are projected lower at 12 lakh bags. The latest updates from the Andhra Pradesh agriculture department shows that, the area under turmeric as on 20th October 2010 stands higher at 0.65 lakh hectare against 0.59 lakh hectare same period last year and against the normal area of 0.64 lakh hectare. In Nizamabad, a major spot market in AP, the price ended at 14445 rupees dropped by -64.5 rupees. Market has opened at 12410 & made a low of 12290 versus the day high of 12872. The total volume for the day was at 5090 lots and the open interest was at 11880.Support for turmeric is at 12484 below that could see a test of 12096. Resistance is now seen at 13066 above that could see a resistance of 13260.

Trading Ideas:

Turmeric trading range is 12096-13260.

Turmeric ended higher lead by strong buying support amid lower arrivals in the mandies

Turmeric is having resistance at 13000 and support at 12720 level.

NCDEX accredited warehouses turmeric stocks fell 30 tonnes to 5254 tonnes.

In Nizamabad, a major spot market in AP, the price ended at 14445 rupees dropped by -64.5 rupees.