Turmeric yesterday we have seen that market has moved -1.68% as rising
supplies from the fresh crop outweighed export demand. Traders are
booking profits at higher levels because of weak fundamentals. Turmeric
output is likely to rise to 6.7 million bags of 70 kg each from 4.65
million bags produced in 2009/10. Turmeric arrivals in Nizamabad mandi
were around 4,000 bags and arrivals in Erode in the state of Tamil Nadu
gained to 13,000 bags from 12,000 bags. In Nizamabad, a major spot
market in AP, the price ended at 11759.1 rupees gained by 269.1 rupees.
Market has opened at 10186 & made a low of 9930 versus the day high
of 10186. The total volume for the day was at 1395 lots and the open
interest was at 6085. Support for turmeric is at 9858 below that could
see a test of 9766. Resistance is now seen at 10114 above that could see
a resistance of 10278.

Trading Ideas:

Turmeric trading range is 9773-10285.

Turmeric ended lower as rising supplies from the fresh crop outweighed export demand

Turmeric is having resistance at 10080 and support at 9820 level.

Turmeric arrivals in Nizamabad mandi were around 4,000 bags and in Erode gained to 13,000 bags from 12,000 bags.

In Nizamabad, a major spot market in AP, the price ended at 11759.1 rupees gained by 269.1 rupees.