Turmeric yesterday we have seen that market has moved -1.62% on sluggish spot demand and on hopes of a revival in the monsoon, which may boost sowing. Buyers are waiting for further correction in prices on hopes of higher acreage this year. In Nizamabad spot market, turmeric dropped 175 rupees to end at 14,683 rupees. Market has opened at 14440 & made a low of 14196 versus the day high of 14452. The total volume for the day was at 7845 lots and the open interest was at 9905.Support for turmeric is at 14147 below that could see a test of 14043. Resistance is now seen at 14403 above that could see a resistance of 14555.

Trading Ideas:

Turmeric trading range is 14043-14555.

Turmeric ended weak on sluggish spot demand and on hopes of a revival in monsoon

Turmeric looks to have resistance at 14400 and support is at 14150.

Yesterday we have seen that open interest fell by 195 and volume rose by 3335

SELL TURMERIC JULY @ 14280 SL 14360 TGT 14200-14140-14080.NCDEX

In Nizamabad spot prices fell by 175 rupees and settled at 14683 rupees per 100 kg.