Turmeric yesterday we have seen that market has moved -0.81% on favourable weather conditions in turmeric cultivating regions that brightened output prospects and on higher stocks. However, reports stating proper sowing activities in the producing region owing to the good monsoon progress have also kept a tab on the prices of the commodity. Turmeric arrivals in the benchmark Nizamabad mandi fell to 1,200 bags from 1,500 bags and the arrivals at Erode in the state of Tamil Nadu dropped to 6,000 bags from 7,000 bags. In Nizamabad, a major spot market in AP, the price ended at 6687.5 rupees dropped by -69.65 rupees. Market has opened at 6170 & made a low of 6048 versus the day high of 6186. The total volume for the day was at 4465 lots and the open interest was at 10415. Support for turmeric is at 6050 below that could see a test of 5980. Resistance is now seen at 6188 above that could see a resistance of 6256.

Trading Ideas:

Turmeric trading range is 5980-6256.

Turmeric dropped on favourable weather conditions in cultivating regions that brightened output prospects

Turmeric arrivals in Nizamabad mandi fell to 1,200 bags and in Erode dropped to 6,000 bags

Turmeric is having resistance at 6188 and support at 6050 level.

In Nizamabad, a major spot market in AP, the price ended at 6687.5 rupees dropped by -69.65 rupees.