Dated 19/08/2017
TURMERIC Nizamabad- Last Close- 18/08/2017- 7200 - Trend line breakout could be attempted
Monthly Chart
Expect a rise to test the trend line resistance and 61.8% retracement of the fall from 9824 to 5790.
The 61.8% retracement is at 8215 and the last close is at 7556.
Expect 8215 to be tested in near term.
Consolidation around DRV-6749 can happen.
A breakout and close above 8215 with bullish candle can set a rally to 9527 or above.
For the time being expect resistance at 8215.
Conclusion
Near term rise likely to test the 61.8% and trend line.
Consolidation around DRV-6749.