Turmeric yesterday we have seen that market has moved 3.24% as a likely delay in arrivals due to unseasonal rains, and diminishing stocks, triggered buying. Supplies are negligible in the physical market. Total turmeric stocks have shrunk by nearly half of what they were at this time last year, and the carry-forward stock is expected to be a meagre 200,000 bags. Turmeric arrivals in Nizamabad mandi stood at 400 bags and the arrivals in Erode were 4,000 bags. In Nizamabad, a major spot market in AP, the price ended at 16404.35 rupees gained by 59.35 rupees. Market has opened at 10700 & made a low of 10400 versus the day high of 10840. The total volume for the day was at 7365 lots and the open interest was at 4990.Support for turmeric is at 10420 below that could see a test of 10190. Resistance is now seen at 10860 above that could see a resistance of 11070.

Trading Ideas:

Turmeric trading range is 10192-11072.

Turmeric ended higher likely delay in arrivals due to unseasonal rains

Turmeric is having resistance at 10760 and support at 10520 level.

NCDEX accredited warehouses turmeric stocks fell 460 tonnes to 1710 tonnes.

TMC MARKET OVER RANNED WILL WAIT TO HAVE A FRESH ENTRY.

In Nizamabad, a major spot market in AP, the price ended at 16404.35 rupees gained by 59.35 rupees.