Turmeric on NCDEX settled down by -1.27% at 6824 as the acreage of turmeric during current year is higher compared to the last two years due to normal monsoon rains in major growing states of Tamil Nadu, Telangana and Maharashtra. Though, some losses were capped on strong export demand. According to the recent report from Andhra Pradesh Agriculture Department, area under turmeric in the state stood higher at 13,992 hectares  as on Sep 9 as against 13,031 hectares same period a year ago. 

At Warangal market arrivals were reported at 250 bags, down by 150 bags from previous trading day. The dispatch of turmeric to North India has been affected by Karnataka issue and the stocks of turmeric are piling up with traders and farmers.

Technically market is under fresh selling as market has witnessed gain in open interest by 4.48% to settled at 15380, now Turmeric is getting support at 6742 and below same could see a test of 6662 level, And resistance is now likely to be seen at 6934, a move above could see prices testing 7046.         

For More Information Nifty Future Trading Tips, Nifty Future Tips,Nifty Market Tips,Future & Option Tips and you can call us on :-9827808090.