Turmeric yesterday we have seen that market has moved 4.01% on delay in arrival of the new crop as rains in growing areas of Andhra Pradesh have reportedly hampered the sowing process leading to a delayed sowing.  If the rain pours in moderate proportion this would lead to abundant supply of the commodity since there are expectations of farmers switching to this crop this year as the returns last year had been good. In Nizamabad turmeric arrivals was steady at 600 bags and The arrivals in the Erode in the state of Tamil Nadu. In Nizamabad, a major spot market in AP, the price ended at 15657.9 rupees gained by 481.6 rupees. Market has opened at 13746 & made a low of 13746 versus the day high of 14016. The total volume for the day was at 1290 lots and the open interest was at 4700.Support for turmeric is at 13836 below that could see a test of 13656. Resistance is now seen at 14106 above that could see a resistance of 14196.

Trading Ideas:

Turmeric trading range is 13648-14188.

Turmeric ended higher due to delay in arrival of the new crop

Turmeric is having resistance at 14100 and support at 13840 level.

NCDEX accredited warehouses turmeric stocks fell 40 tonnes to 4547 tonnes.

In Nizamabad, a major spot market in AP, the price ended at 15657.9 rupees gained by 481.6 rupees.