Turmeric yesterday we have seen that market has moved 0.4% due to poor supplies in spot amid a pick-up in domestic demand during the festival season. India's turmeric exports fell 13 percent to 22,250 tonnes in April-August 2010 from the same period a year ago. Turmeric arrivals in the Nizamabad mandi surged to 500 bags from 350. The Erode arrivals surged to 10,000 bags from 5,000 bags. In Nizamabad, a major spot market in AP, the price ended at 14595 rupees gained by 22.8 rupees. Market has opened at 13930 & made a low of 13808 versus the day high of 14110. The total volume for the day was at 5940 lots and the open interest was at 10795.Support for turmeric is at 13855 below that could see a test of 13681. Resistance is now seen at 14157 above that could see a resistance of 14285.

Trading Ideas:

Turmeric trading range is 13681-14285.

Turmeric ended firm due to poor supplies in spot amid a pick-up in domestic demand

Turmeric is having resistance at 14157 and support at 13855 level.

NCDEX accredited warehouses turmeric stocks fell 30 tonnes to 4433 tonnes.

In Nizamabad, a major spot market in AP, the price ended at 14595 rupees gained by 22.8 rupees.