Turmeric yesterday we have seen that market has moved 0.16% on improved demand amid arrival sentiments. More demand from North India had supported the prices from further decline. However rising supplies from the fresh crop weighed on sentiment. Supplies have been rising continuously in the spot market due to higher production after farmers expanded area under the spice. Overseas demand has been slack as exporters expect further fall in prices in the coming days due to increasing supplies.

Turmeric arrivals in Nizamabad mandi surged to 10,000 bags from 6,000 bags and arrivals in Erode stood at 5,000 bags. In Nizamabad, a major spot market in AP, the price ended at 13344.45 rupees gained by 153.55 rupees. Market has opened at 9820 & made a low of 9760 versus the day high of 9840. The total volume for the day was at 495 lots and the open interest was at 6035. Support for turmeric is at 9787 below that could see a test of 9733. Resistance is now seen at 9867 above that could see a resistance of 9893.

Trading Ideas: Turmeric trading range is 9733-9893. Turmeric gained on improved demand amid arrival sentiments. Turmeric is having resistance at 9920 and support at 9760 level. Turmeric arrivals in Nizamabad mandi surged to 10,000 bags and arrivals in Erode stood at 5,000 bags. In Nizamabad, a major spot market in AP, the price ended at 13344.45 rupees gained by 153.55 rupees.