Turmeric yesterday we have seen that market has moved -1.42% on account of clearer skies in the growing areas of AP and Karnataka, which has facilitated the increased arrivals of the commodity, thereby pressurizing the market sentiment. However, prospects of improved export and domestic demand in coming weeks could support the prices of the commodity in the near term future. In Nizamabad, a major spot market in AP, the price ended at 16822.2 rupees gained by 53.2 rupees. Market has opened at 10310 & made a low of 10072 versus the day high of 10380. The total volume for the day was at 3940 lots and the open interest was at 6570.Support for turmeric is at 10008 below that could see a test of 9886. Resistance is now seen at 10316 above that could see a resistance of 10502.

Trading Ideas:

Turmeric trading range is 9891-10507.

Turmeric ended lower on account of clearer skies in the growing areas of AP and Karnataka

Turmeric is having resistance at 10250 and support at 10000 level.

NCDEX accredited warehouses turmeric stocks fell 9 tonnes to 308 tonnes.

SELL TMC APR @ 10250-300 SL 10425 TGT 10120-10020-9880.NCDEX

In Nizamabad, a major spot market in AP, the price ended at 16822.2 rupees gained by 53.2 rupees.