Turmeric yesterday we have seen that market has moved -3.99% due to speculative selling. The commodity opened on a positive note on strong domestic demand, traders were hopeful that prices may recover back by the end of the session, tracking positive global cues. In Nizamabad, a major spot market in AP, the price ended at 16906.25 rupees dropped by -140.8 rupees. Market has opened at 15400 & made a low of 14720 versus the day high of
15440. The total volume for the day was at 4385 lots and the open interest was at 5260. Support for turmeric is at 14480 below that could see a test of 14240. Resistance is now seen at 15200 above that could see a resistance of
15680.

Trading Ideas:

Turmeric trading range is 14339-15779.

Turmeric ended lower due to speculative selling

Turmeric is having resistance at 14850 and support at 14600 level.

NCDEX accredited warehouses turmeric stocks fell 115 tonnes to 3360 tonnes.

In Nizamabad, a major spot market in AP, the price ended at 16906.25 rupees dropped by -140.8 rupees.