Turmeric yesterday we have seen that market has moved 1.43% on the back of buying interest of low carryover stocks as fresh arrivals of the commodity is expected to reach the market on February onwards. Wet weather conditions in the growing places are delaying the arrival of turmeric which usually starts from January onwards. In Nizamabad, a major spot market in AP, the price ended at 16777.5 rupees dropped by -72.5 rupees. Market has opened at 14280 & made a low of 14150 versus the day high of 14818. The total volume for the day was at 4450 lots and the open interest was at 3600.Support for turmeric is at 14147 below that could see a test of 13815. Resistance is now seen at 14815 above that could see a resistance of 15151.

Trading Ideas:

Turmeric trading range is 13799-15135.

Turmeric ended positive on the back of buying interest of low carryover stocks

Turmeric is having resistance at 14600 and support at 14350 level.

NCDEX accredited warehouses turmeric stocks rose 16 tonnes to 2877 tonnes.

In Nizamabad, a major spot market in AP, the price ended at 16777.5 rupees dropped by -72.5 rupees.