Turmeric yesterday we have seen that market has moved 1.39% as demand picked up at the lower levels. Also there is a prospect of improved export and domestic demand in the coming days coupled with reports of delayed arrivals of the new crop. Turmeric arrivals in Nizamabad mandi were stood at 300 bags and the arrivals in Erode were 4,000 bags. These unseasonal rains are expected to push back the fresh crop by two weeks. In Nizamabad, a major spot market in AP, the price ended at 16352.9 rupees dropped by -332 rupees. Market has opened at 9920 & made a low of 9920 versus the day high of 10184. The total volume for the day was at 2730 lots and the open interest was at 3975.Support for turmeric is at 9939 below that could see a test of 9797. Resistance is now seen at 10203 above that could see a resistance of 10325.

Trading Ideas:

Turmeric trading range is 9799-10327.

Turmeric ended higher due to pick up in demand

Turmeric is having resistance at 10200 and support at 9940 level.

NCDEX accredited warehouses turmeric stocks fell 460 tonnes to 2332 tonnes.

In Nizamabad, a major spot market in AP, the price ended at 16352.9 rupees dropped by -332 rupees.