Turmeric yesterday we have seen that market has moved 2.55% on improved buying interest supported by some overseas enquiries. Further, even the bulk buyers are also expected to get active because prices have fallen significantly. However higher arrival of turmeric prevented further upside of commodity. The production is also expected on the higher side due to increased acreage of cultivation due to good monsoon and better prices. In Nizamabad, a major spot market in AP, the price ended at 11400 rupees gained by 168.45 rupees. Market has opened at 9670 & made a low of 9552 versus the day high of 9948. The total volume for the day was at 3890 lots and the open interest was at 6570.Support for turmeric is at 9651 below that could see a test of 9403. Resistance is now seen at 10047 above that could see a resistance of 10195.

Trading Ideas:

Turmeric trading range is 9401-10193.

Turmeric ended higher on improved buying interest supported by some overseas enquiries.

Turmeric is having resistance at 10000 and support at 9760 level.

Supplies have been rising continuously in the spot market due to higher production.

BUY TURMERIC APR ABV 9700 SL 9600 TGT 9820-9950.NCDEX

In Nizamabad, a major spot market in AP, the price ended at 11400 rupees gained by 168.45 rupees.