Turmeric yesterday we have seen that market has moved 4% on the concerns of unseasonal rains affecting the yields of the produce amidst declining stocks and strong local demand. These rains are not good for the crop. Yields may get hit due to these untimely rains. In Nizamabad, a major spot market in AP, the price ended at 15761.1 rupees gained by 166.35 rupees. Market has opened at 14068 & made a low of 14068 versus the day high of 14344. The total volume for the day was at 3625 lots and the open interest was at 4715.Support for turmeric is at 14160 below that could see a test of 13976. Resistance is now seen at 14436 above that could see a resistance of 14528.

Trading Ideas:

Turmeric trading range is 13976-14528.

Turmeric ended higher on the concerns of unseasonal rains affecting the yields

Turmeric is having resistance at 14436 and support at 14200 level.

NCDEX accredited warehouses turmeric stocks fell 60 tonnes to 4417 tonnes.

In Nizamabad, a major spot market in AP, the price ended at 15761.1 rupees gained by 166.35 rupees.