Turmeric yesterday we have seen that market has moved 0.36% on the back of reports of some export enquiries and bargain buying by traders. The commodity prices bounced back on fresh buying at lower levels. However, huge arrivals of fresh crop at spot market limited the gains. In Nizamabad, a major spot market in AP, the price ended at 13308.35 rupees gained by 53.8 rupees. Market has opened at 9950 & made a low of 9902 versus the day high of 10060. The total volume for the day was at 2470 lots and the open interest was at 6060. Support for turmeric is at 9877 below that could see a test of 9811. Resistance is now seen at 10035 above that could see a resistance of 10127.

Trading Ideas:

Turmeric trading range is 9806-10122.

Turmeric gained on reports of some export enquiries and bargain buying

Turmeric is having resistance at 10035 and support at 9877 level.

Average daily arrivals in Nizamabad were 4000 bags while in Erode were 6000 bags

SELL TMC APR BELOW 9800 SL 9960 TGT 9720-9600-9480. NCDEX

In Nizamabad, a major spot market in AP, the price ended at 13308.35 rupees gained by 53.8 rupees.