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Chaitra Navratri

NCDEX Turmeric Medium Term Bearish

Posted by : Karan Hakim on | Feb 23,2015

We maintain our bearish view on NCDEX Turmeric as prices is showing weakness and heading towards the previous breakout support Rs 7500. Recently prices have given break out of symmetrical triangle at Rs.7500 and rallied to make a contract high of Rs 9550. Prices was unable o hold and again heading towards the breakout level ,hence we recommend to go short till rise towards Rs.8300 for the target of Rs.7700/7500 for the week.

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Kotak Commodities is promoted by the Kotak family that has decades of experience in commodity trading, they have a full-fledged research division involved in macro & commodity complex research and commodity specific research. This is combined with a strong and well networked sales force, which helps deliver current and up-to-date market information and news. For more information visit their website. http://www.kotakcommodities.com/