Turmeric yesterday we have seen that market has moved -1.24% on weak spot demand and on the progress of monsoon, which may help sowing operations. Demand has come down as traders are expecting higher crop. Sowing is expected to be higher this year after farmers got good prices last year. In Nizamabad, a major spot market in Andhra Pradesh, the price dropped 272 rupees to end at 15,033 rupees. Market has opened at 14750 & made a low of 14540 versus the day high of 14900. The total volume for the day was at 10310 lots and the open interest was at 7320.Support for turmeric is at 14495 below that could see a test of 14337. Resistance is now seen at 14855 above that could see a resistance of 15057.

Trading Ideas:

Turmeric trading range is 14337-15057.

Turmeric ended lower on weak spot demand and on the progress of monsoon

Turmeric looks to have resistance at 14740 and support is at 14560.

NCDEX accredited warehouses turmeric stocks rose 249 tonnes to 1005 tonnes.

TURMERIC BELOW 14800 LOOK TO TEST 14380 LEVEL. WILL WAIT FOR ENTRY.

In Nizamabad spot prices fell 272 rupees and settled at 15033 rupees per 100 kg.