Turmeric yesterday we have seen that market has moved 0.42% on the back of buying interest of low carryover stocks as fresh arrivals for the commodity is expected to reach the Market from February onwards. Wet weather conditions in the growing areas of the producing region are delaying the arrival of Turmeric which usually starts from January onwards. Turmeric arrivals in Nizamabad mandi was steady at 300 bags and the arrivals in Erode in the state of Tamil Nadu were around 4,000 bags. In Nizamabad, a major spot market in AP, the price ended at 16826.2 rupees gained by 48.7 rupees. Market has opened at 9566 & made a low of 9430 versus the day high of 9566. The total volume for the day was at 545 lots and the open interest was at 3400.Support for turmeric is at 9457 below that could see a test of 9375. Resistance is now seen at 9593 above that could see a resistance of 9647.

Trading Ideas:

Turmeric trading range is 9361-9633.

Turmeric ended positive on the back of buying interest

Turmeric is having resistance at 9595 and support at 9460 level.

NCDEX accredited warehouses turmeric stocks fell 75 tonnes to 2802 tonnes.

In Nizamabad, a major spot market in AP, the price ended at 16826.2 rupees gained by 48.7 rupees.