Turmeric yesterday we have seen that market has moved -2.94% due to profit booking at higher levels amid higher production estimation and technical cues. The arrival of the commodity in mandi was estimated to be near at 10000 bags compared with 5000 bags in the previous day. In Nizamabad, a major spot market in AP, the price ended at 17047.05 rupees gained by 52.3 rupees. Market has opened at 15850 & made a low of 15200 versus the day high of 16070. The total volume for the day was at 5640 lots and the open interest was at 6065. Support for turmeric is at 14985 below that could see a test of 14657. Resistance is now seen at
15855 above that could see a resistance of 16397.

Trading Ideas:

Turmeric trading range is 14664-16404.

Turmeric ended lower due to profit booking at higher levels

Turmeric is having resistance at 15440 and support at 15160 level.

NCDEX accredited warehouses turmeric stocks fell 45 tonnes to 3475 tonnes.

In Nizamabad, a major spot market in AP, the price ended at 17047.05 rupees gained by 52.3 rupees.