Turmeric yesterday we have seen that market has moved 0.85%on the back of fresh buying at lower levels by the market participants. Stockiest at the domestic mandi are not willing to offload their stocks at lower levels. Exports of Turmeric from India during April 2010- February 2011 stood at 42,500 tonnes as compared to 46,575 tonnes in 2009-10, a decline of 9%. Turmeric production in the year 2010-11 is estimated at 69 lakh bags compared to 48 lakh bags during the previous year. Turmeric arrivals in t Nizamabad mandi were at 15,000 bags and arrivals at Erode stood steady at 13,000bags. In Nizamabad, a major spot market in AP, the price ended at 10105 rupees dropped by -125 rupees. Market has opened at 10228 & made a low of 10170 versus the day high of 10440. The total volume for the day was at 8370 lots and the open interest was at 6935.Support for turmeric is at 10127 below that could see a test of 10013. Resistance is now seen at 10397 above that could see a resistance of 10553.

Trading Ideas:

Turmeric trading range is 10011-10551.

Turmeric gained on the back of fresh buying at lower levels

Turmeric is having resistance at 10397 and support at 10127 level.

Turmeric arrivals in t Nizamabad mandi were at 15,000 bags and arrivals at Erode stood steady at 13,000bags.

In Nizamabad, a major spot market in AP, the price ended at 10105 rupees dropped by -125 rupees.