Turmeric yesterday we have seen that market has moved -1.63% on hopes of revival in monsoon, which is likely to boost sowing. Turmeric may not come down much as fresh stock will come in early next year. Turmeric exports in April 2010 gained 13 percent to 5,300 tonnes on year, the Spices Board said. In Nizamabad spot market, turmeric dropped 33 rupees to end at 14,650 rupees. Market has opened at 14180 & made a low of 13968 versus the day high of 14224. The total volume for the day was at 10040 lots and the open interest was at 10185.Support for turmeric is at 13917 below that could see a test of 13815. Resistance is now seen at 14173 above that could see a resistance of 14327.

Trading Ideas:

Turmeric trading range is 13815-14327.

Turmeric ended weak on hopes of revival in monsoon which is likely to boost sowing

Turmeric looks to have resistance at 14170 and support is at 13920.

Yesterday we have seen that open interest rose by 280 and volume by 2195

SELL TMC JULY BELOW 14000 SL 14111 TGT 13925-13860-13780.NCDEX

In Nizamabad spot prices fell by 33 rupees and settled at 14650 rupees per 100 kg.