Turmeric yesterday we have seen that market has moved 0.29% as lower arrivals prompted bargain-hunting, and firmness in other spices also helped sentiment. However, higher acreage in major cultivating states and good rains, which raised the hopes of good crop could limit the upside. It took cues from strong jeera and pepper, however there is no change in its fundamentals like higher acreage and favourable weather in Andhra Pradesh. Market has opened at 13660 & made a low of 13536 versus the day high of 13720. The total volume for the day was at 1120 lots and the open interest was at 3500.Support for turmeric is at 13572 below that could see a test of 13462. Resistance is now seen at 13756 above that could see a resistance of 13830.

Trading Ideas:

Turmeric trading range is 13461-13829.

Turmeric ended positive as lower arrivals prompted bargain-hunting

Turmeric looks to have resistance at 13760 and support is at 13570.

NCDEX accredited warehouses turmeric stocks rose by 458 tonnes to 3659 tonnes.

In Nizamabad turmeric spot prices settled at 14856 rupees per 100 kg