NCDEX Turmeric August Weekly: Expect Higher Range To Be Tested

Report For Date: 17/07/2017

NCDEX Turmeric (Price are in INR (Rs)/Quintal)

Traders long and holding the same can maintain the stop loss at 6900.

Higher range for the week can be 7738-8352.

Last week was 7th week of higher low and higher high expect some resistance at higher range with up trend to continue with volatility.

The 50% and 61.8% retracement are placed at 8147 and 8810.

Weaker opening and correction first to 7343-7124 can be used for buying with a stop loss of 6900.

TREND INFORMATION WITH WEEKLY LEVELS

*Trend will remain down as long as last close is below the pink color DRV. Trend will be Up as long as Price is above DRV. Positional Traders can hold long position with DRV as the closing stop loss and close >DRV. Traders can hold short position with DRV as the closing stop loss and close <DRV.

PRICE, VOLUME AND OPEN INTEREST STRATEGY

TECHNICAL INDICATORS TABLE

Disclaimer: There is risk of loss in trading in derivatives and the report is not to be construed as investment advice. The information provided in this report is intended solely for informative purposes. The author, directors and other employees of CC Commodity Info Services cannot be held responsible for the accuracy of the information presented herein or for the results of the positions taken based on the opinions expressed above.