Turmeric yesterday we have seen that market has moved -2.16% as rising supplies from the fresh crop outweighed export demand. Supplies have been rising in the spot market from the fresh crop on increased acreage. India's turmeric output is likely to rise to 6.7 million bags of 70 kg each from 4.65 million bags in 2009/10.Arrivals in Erode in the state of Tamil Nadu gained to 12,000 bags from 8,000 bags. In Nizamabad, a major spot market in AP, the price ended at 11490 rupees dropped by -26.35 rupees. Market has opened at 10268 & made a low of 9950 versus the day high of 10288. The total volume for the day was at 3685 lots and the open interest was at 5885.Support for turmeric is at 9900 below that could see a test of 9756. Resistance is now seen at 10238 above that could see a resistance of 10432.

Trading Ideas:

Turmeric trading range is 9760-10436.

Turmeric ended lower as rising supplies from the fresh crop outweighed export demand

Turmeric is having resistance at 10160 and support at 9900 level.

Arrivals in Erode in the state of Tamil Nadu gained to 12,000 bags from 8,000 bags.

In Nizamabad, a major spot market in AP, the price ended at 11490 rupees dropped by -26.35 rupees.