Turmeric yesterday we have seen that market has moved 2.01% as a decline in daily arrivals amid some improvement in domestic demand supported buying. Around 4,000 bags (70 kg each) arrived at Erode market against 9,000 bags yesterday. In April-August 2010, India's turmeric exports were 22,250 tonnes, down 13 percent from the same period a year ago. In Nizamabad, a major spot market in AP, the price ended at 14505.25 rupees gained by 93.75 rupees. Market has opened at 13500 & made a low of 13460 versus the day high of 13780. The total volume for the day was at 7210 lots and the open interest was at 9985.Support for turmeric is at 13567 below that could see a test of 13353. Resistance is now seen at 13887 above that could see a resistance of 13993.

Trading Ideas:

Turmeric trading range is 13353-13993.

Turmeric ended higher as decline in arrivals amid improvement in demand supported buying

Turmeric is having resistance at 13887 and support at 13567 level.

Around 4,000 bags arrived at Erode market against 9,000 bags yesterday

In Nizamabad, a major spot market in AP, the price ended at 14505.25 rupees gained by 93.75 rupees.