NCDEX Turmeric Short Term Bullish

Turmeric on the NCDEX for April delivery is looking bullish for short term. Support for the commodity is at 5940 while 6730 is the resistance. If the commodity trades above 6730, then more fresh buying is expected.

The contract was trading on a positive note at Rs.6412, a gain of 0.47% as of 11.49 AM IST, Monday.

“Over all trend for turmeric is looking bullish for short term. Support for short term is at 5940 while 6730 is the resistance. If the commodity trades above 6730, more fresh buying is expected,” said Milan Shah Research Analyst, Commodity Online.

“Buy on dips strategy is advised to the traders for the commodity. Medium term traders should avoid any selling position until it breaks 5940 level,” he added.

Low rainfall in the Southern states of India, especially Andhra Pradesh, Karnataka and Tamil Nadu is likely to keep turmeric production lower by 30-40% this year.
Turmeric production in 2012-13 is expected around 55 lakh bags. Production in 2011-12 is projected at historical high of 10.62 lakh tn. [Via]

====================================================================================

You can earn profits too. Contact us for trading Commodity, Equity, Stocks and futures. We are the leading brand in providing accurate trading tips with +90% accuracy, Investment Planning, Money Management and Paid Consultancy. 

Complete Broker Franchise available here. Get registered for free trials for any trade you want. Call us for more details and amazing offers for traders. Join us and become a professional trader.  

Official  Website: Dhansukh.Com
Email & Messenger: Investwithme@yahoo.in  
Mob: 9872444433
Landline: 0161-4413274, 0161-4621433 

====================================================================================

Posted in: commodity news,market news,trading news