Turmeric yesterday we have seen that market has moved 0.38% helped by limited stocks in the spot markets, but reviving monsoon, which is expected to help sowing and boost output limited the upside. Good rains are helping sowing and pressuring prices. In Nizamabad spot prices rose 21 rupees and ended at 14736 rupees per 100 kg. Market has opened at 14330 & made a low of 14276 versus the day high of 14540. The total volume for the day was at 4985 lots and the open interest was at 6185.Support for turmeric is at 14285 below that could see a test of 14149. Resistance is now seen at 14549 above that could see a resistance of 14677.

Trading Ideas:

Turmeric trading range is 14149-14677.

Turmeric ended positive helped by limited stocks in spot markets

Turmeric looks to have resistance at 14550 and support is at 14285.

NCDEX accredited warehouses turmeric stocks remained at 2142 tonnes.

SELL TURMERIC AUG @ 14450 SL 14560 TGT 14380-14320-14260.NCDEX

In Nizamabad spot prices rose 21 rupees and ended at 14736 rupees per 100 kg