Turmeric yesterday we have seen that market has moved 3.2% supported from dwindling stocks and limited supplies. Turmeric arrivals in Nizamabad mandi dipped to 200 bags from 300 bags and the arrivals in Erode surged to 5,000 bags from 4,000 bags on last day. Arrivals have not started as yet and they will start in January. In Nizamabad, a major spot market in AP, the price ended at 16685 rupees dropped by -141.2 rupees. Market has opened at 9520 & made a low of 9500 versus the day high of 9864. The total volume for the day was at 3120 lots and the open interest was at 3380. Support for turmeric is at 9579 below that could see a test of 9357. Resistance is now seen at 9943 above that could see a resistance of 10085.

Trading Ideas:

Turmeric trading range is 9345-10073.

Turmeric ended higher supported from dwindling stocks and limited supplies

Turmeric is having resistance at 9945 and support at 9680 level.

NCDEX accredited warehouses turmeric stocks fell 10 tonnes to 2792 tonnes.

In Nizamabad, a major spot market in AP, the price ended at 16685 rupees dropped by -141.2 rupees.