Turmeric yesterday we have seen that market has moved 1.53% on short supply in the physical market and diminishing stocks. A likely delay in the arrivals due to unseasonal rains also supported the sentiment. Local buyers are active in the market but stocks are very limited. 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 bag. In Nizamabad, a major spot market in AP, the price ended at 16610.5 rupees gained by 242.35 rupees. Market has opened at 10400 & made a low of 10270 versus the day high of 10838. The total volume for the day was at 6230 lots and the open interest was at 5440.Support for turmeric is at 10315 below that could see a test of 10009. Resistance is now seen at 10883 above that could see a resistance of 11145.

Trading Ideas:

Turmeric trading range is 10009-11145.

Turmeric ended higher due to short supply in the physical market

Turmeric is having resistance at 10800and support at 10480 level.

NCDEX accredited warehouses turmeric stocks fell 155 tonnes to 1326 tonnes.

In Nizamabad, a major spot market in AP, the price ended at 16610.5 rupees gained by 242.35 rupees.