Turmeric yesterday we have seen that market has moved 0.78% supported by a pick-up in domestic and export demand, while restricted supplies also added to the rise. Some export demand is there but it is not as per the expectation because of higher prices. Turmeric arrivals in the Nizamabad mandi quoted at 500 bags and arrivals in the Erode mandi were 15,000 bags. In Nizamabad, a major spot market in AP, the price ended at 14602.75 rupees dropped by -15.65 rupees. Market has opened at 12800 & made a low of 12752 versus the day high of 12942. The total volume for the day was at 1860 lots and the open interest was at 11875. Support for turmeric is at 12787 below that could see a test of 12675. Resistance is now seen at 12977 above that could see a resistance of 13055.

Trading Ideas:

Turmeric trading range is 12675-13055.

Turmeric ended positive supported by a pick-up in domestic and export demand

Turmeric is having resistance at 12977 and support at 12787 level.

NCDEX accredited warehouses turmeric stocks fell 40 tonnes to 5144 tonnes.

In Nizamabad, a major spot market in AP, the price ended at 14602.75 rupees dropped by -15.65 rupees.