Turmeric yesterday we have seen that market has moved -1.13% as speculators continued to book profits at existing higher levels. Further, even estimates of higher production are inserting pressure on the prices of the commodity. Besides, fall in demand at higher levels, weak exports after recent rally mainly weighed on turmeric futures prices. Turmeric arrivals in Nizamabad mandi slightly improved to 300 bags from 150 bags and in Erode were improved to 5,000 bags from 4,000 bags. In Nizamabad, a major spot market in AP, the price ended at 16252.95 rupees dropped by -69.75 rupees. Market has opened at 10002 & made a low of 9910 versus the day high of 10150. The total volume for the day was at 2480 lots and the open interest was at 6130. Support for turmeric is at 9883 below that could see a test of 9777. Resistance is now seen at 10123 above that could see a resistance of 10257.

Trading Ideas:

Turmeric trading range is 9777-10257.

Turmeric ended lower as speculators continued to book profits at existing higher levels

Turmeric is having resistance at 10123 and support at 9883 level.

Turmeric arrivals in Nizamabad slightly improved to 300 bags and in Erode were improved to 5,000 bags.

SELL TMC APR BELOW 10000 SL 10165 TGT 9920-9842-9765. NCDEX

In Nizamabad, a major spot market in AP, the price ended at 16252.95 rupees dropped by -69.75 rupees.