Turmeric yesterday we have seen that market has moved 0.19% as some overseas enquiries supported the prices. However rising arrivals from the fresh crop and estimated higher production weighed on prices. Supplies from the fresh crop are continuously rising in the spot market. Local demand is almost negligible on apprehensions of a further fall in prices.

Turmeric arrivals in Nizamabad mandi slipped to 8,000 bags from 10,000 bags and arrivals in Erode surged to 8,000 bags from 7,000 bags. In Nizamabad, a major spot market in AP, the price ended at 11231.55 rupees dropped by -150.8 rupees. Market has opened at 9650 & made a low of 9504 versus the day high of 9726. The total volume for the day was at 2515 lots and the open interest was at 6805. Support for turmeric is at 9522 below that could see a test of 9402. Resistance is now seen at 9744 above that could see a resistance of 9846.

Trading Ideas: Turmeric trading range is 9405-9849. Turmeric settled firm as some overseas enquiries supported the prices. Turmeric is having resistance at 9744 and support at 9522 level. Turmeric arrivals in Nizamabad mandi slipped to 8,000 bags and arrivals in Erode surged to 8,000 bags. In Nizamabad, a major spot market in AP, the price ended at 11231.55 rupees dropped by -150.8 rupees.