Turmeric yesterday we have seen that market has moved -0.11% due to profit-taking and estimates of higher production. In spot, domestic demand is good ahead of Diwali. Some export enquiries are also coming from the Gulf countries. Turmeric arrivals in the Nizamabad mandi quoted at 500 bags and in the Erode mandi were 10,000 bags. Turmeric quoted in the Salem mandi at Rs 15,000 per 100 kg. In Nizamabad, a major spot market in AP, the price ended at 14542.5 rupees gained by 97.5 rupees. Market has opened at 12950 & made a low of 12732 versus the day high of 12980. The total volume for the day was at 5845 lots and the open interest was at 11350.Support for turmeric is at 12681 below that could see a test of 12583. Resistance is now seen at 12929 above that could see a resistance of 13079.

Trading Ideas:

Turmeric trading range is 12583-13079.

Turmeric ended weak due to profit-taking and estimates of higher production

Turmeric is having resistance at 12929 and support at 12681 level.

Turmeric arrivals in Nizamabad mandi were 500 bags and in Erode mandi were 10,000 bags

In Nizamabad, a major spot market in AP, the price ended at 14542.5 rupees gained by 97.5 rupees.