Turmeric yesterday we have seen that market has moved -1.66% due to hopes of increased supplies in coming days on estimates of higher production and slack overseas demand. Buyers are not very active in the market because they expect further fall in the prices on hopes of increased supplies. Arrivals are expected to gain pace in coming days. Arrivals from the new crop have started at some places in small quantities and are expected to peak by mid-January. In Nizamabad, a major spot market in AP, the price ended at 16158.8 rupees dropped by -94.15 rupees. Market has opened at 10124 & made a low of 9760 versus the day high of 10180. The total volume for the day was at 2770 lots and the open interest was at 6385.Support for turmeric is at 9753 below that could see a test of 9547. Resistance is now seen at 10173 above that could see a resistance of 10387.

Trading Ideas:

Turmeric trading range is 9551-10391.

Turmeric ended weak due to hopes of increased supplies and slack overseas demand.

Turmeric is having resistance at 10173 and support at 9753 level.

Arrivals from the new crop have started at some places in small quantities.

In Nizamabad, a major spot market in AP, the price ended at 16158.8 rupees dropped by -94.15 rupees.