Turmeric yesterday we have seen that market has moved 4.01% on the back of rising demand at the lower levels. Also there is prospect of improved export and domestic demand in coming weeks while the reports of delay in arrivals of the new crop could further support the prices. Total turmeric stocks have shrunk by nearly half of what they were at this time last year, and the carry-forward stock is expected to be a meagre 200,000 bags.  In Nizamabad, a major spot market in AP, the price ended at 16345 rupees dropped by -32.75 rupees. Market has opened at 10050 & made a low of 10050 versus the day high of 10490. The total volume for the day was at 3460 lots and the open interest was at 4100.Support for turmeric is at 10197 below that could see a test of 9903. Resistance is now seen at 10637 above that could see a resistance of 10783.

Trading Ideas:

Turmeric trading range is 9845-10725.

Turmeric ended higher on the back of rising demand at the lower levels

Turmeric is having resistance at 10630 and support at 10340 level.

NCDEX accredited warehouses turmeric stocks fell 162 tonnes to 2170 tonnes.

In Nizamabad, a major spot market in AP, the price ended at 16345 rupees dropped by -32.75 rupees.