Tuesday 6 January 2015

FRESH BUYING SEEN IN TURMERIC, GAINS AT 9342

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  • Turmeric trading range for the day is 8498-9806.
  • Turmeric settled up by 2.75% at 9342 amid rising domestic as well as export demand in the spot market.
  • At Erode market estimated market supply was at 11000 quintals, higher by 1000 quintals from previous trading day.
  • At Nizamabad market reported arrivals at 1000 quintals, higher by 600 quintals as compared to previous day.
  • Technically market is under fresh buying as market has witnessed gain in open interest by 0.92% to settled at 26220.
  • Now Turmeric is getting support at 8920 and below same could see a test of 8498 level, and resistance is now likely to be seen at 9574, a move above could see prices testing 9806.
CS TURMERIC (APRIL) TRADING LEVEL:

TREND : MIXED TO BULLISH                 STRATEGY: BUY ON DIPS

RESIST 2:9810 || RESIST 1:9575               SUP1:8920 || SUP2:8500
   
      



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