Turmeric yesterday we have seen that market has moved 2.69% due to strong spot demand amid steady arrivals in the local markets. Further, even continued short covering at lower levels supported the futures to register sharp gains. Turmeric arrivals in Nizamabad mandi was around 8,000 bags and arrivals in Erode stood at 12,000 bags. In Nizamabad, a major spot market in AP, the price ended at 11410.5 rupees gained by 10.5 rupees. Market has opened at 9850 & made a low of 9812 versus the day high of 10282. The total volume for the day was at 5135 lots and the open interest was at 6075.Support for turmeric is at 9886 below that could see a test of 9614. Resistance is now seen at 10356 above that could see a resistance of 10554.

Trading Ideas:

Turmeric trading range is 9616-10556.

Turmeric ended higher due to strong spot demand amid steady arrivals

Turmeric is having resistance at 10240 and support at 10060 level.

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

In Nizamabad, a major spot market in AP, the price ended at 11410.5 rupees gained by 10.5 rupees.