Turmeric yesterday we have seen that market has moved 2.68% as some enquiries from Dubai and a pick-up in domestic demand during the festival season amid slack supplies buoyed sentiment. Some export enquires have come from Dubai. Turmeric arrivals in the Nizamabad mandi stood steady at 500 bags. The Erode arrivals slipped to 7,000 bags from 10,000bags. In Nizamabad, a major spot market in AP, the price ended at 14676.2 rupees gained by 81.2 rupees. Market has opened at 14028 & made a low of 13930 versus the day high of 14474. The total volume for the day was at 6320 lots and the open interest was at 11175. Support for turmeric is at 14069 below that could see a test of 13727. Resistance is now seen at 14613 above that could see a resistance of 14815.

Trading Ideas:

Turmeric trading range is 13732-14820.

Turmeric ended firm as some enquiries from Dubai and a pick-up in domestic demand supported prices

Turmeric is having resistance at 14613 and support at 14069 level.

NCDEX accredited warehouses turmeric stocks fell 40 tonnes to 4393 tonnes.

In Nizamabad, a major spot market in AP, the price ended at 14676.2 rupees gained by 81.2 rupees.