AHMEDABAD (Commodity Online): Turmeric prices traded weak on NCDEX on selling sentiments technically today. September contract opened at 6400 and made low of 6146 per quintal during trading session.
“Technically, support for Turmeric September future is at 5960,” said Anil Patadia, Commodity Analyst with Commodity Online.
Bumper crop this year due to favorable weather conditions and constant demand kept prices weak. Ultimate direction for turmeric is downside these days. Bottom buying opportunity is about to occurre in near future.
“Fundamentally, Turmeric is moderate. Selling is taking place at this stage. Intraday traders should trade as per momentum for safe trading,” said Patadia.
To get in touch with the Analyst on this report, please mail to tips@commodityonline.com
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