Turmeric yesterday we have seen that market has moved -1.58% as rising arrivals in a year of higher expected production outweighed export enquiries. Further, even heavy arrival in major mandis due to higher production after farmers expanded the area under spice cultivation weighed on prices. Turmeric arrivals in Nizamabad mandi declined to 6,000 bags from 8,000 bags and arrivals in Erode in the state of Tamil Nadu dipped to 8,000 bags from 12,000 bags. In Nizamabad, a major spot market in AP, the price ended at 11450 rupees gained by 39.5 rupees. Market has opened at 9758 & made a low of 9686 versus the day high of 9940. The total volume for the day was at 1720 lots and the open interest was at 5970.Support for turmeric is at 9624 below that could see a test of 9528. Resistance is now seen at 9878 above that could see a resistance of 10036.

Trading Ideas:

Turmeric trading range is 9532-10040.

Turmeric ended lower on rising arrivals in a year of higher expected production outweighed export enquiries

Turmeric is having resistance at 9820 and support at 9700 level.

Turmeric arrivals in Nizamabad mandi declined to 6,000 bags  and arrivals in Erode  dipped to 8,000 bags.

SELL TURMERIC APR BELOW 9700 SL 9810 TGT 9620-9540-9380.NCDEX

In Nizamabad, a major spot market in AP, the price ended at 11450 rupees gained by 39.5 rupees.