Technical: Turmeric Nizamabad Spot: Correction Is For Consolidation 22 Nov 2017 1:38 pm   0 Comments  |   Post Comment  |  Font Size A A A  Dated 22/11/2017 Technical: Turmeric Nizamabad Spot: Correction Is For Consolidation TURMERIC Nizambad- Last Close- 7395 : Correction is for consolidation Monthly Chart Not much change of view post last update is noticed. Trend is up as prices are above both the averages. In last few days, the 55 VA is above 89 VA suggest that bull market is likely to be in place. Resistance of 7810 must be crossed in order to confirm the bull market. Subsequently expect 9628 at least and may exceed to attain 13400-1900. For the time being resistance of 7810 is critical for upside momentum. Correction and retracement of the last rise from 5377 to 7772 are placed at 7200-6855-6555-6269. Correction to retracement of 6855-6555-6269 will be opportunity for consolidation. The 55 VA and 89 VA are placed at 7001-7047 and are likely to offer support for consolidation along with retracement. Conclusion Breakout and close above 7810 is essential for upside momentum. Lower correction to averages and retracement are for accumulation.   Rate this story Rated 0.0    Post comment Comment : Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy. Name :   Email :       Post Comment		Latest Special Reports Kadi (Gujarat) Cotton Seed Trading in a Range (Rs. 545... US cotton net export sales for April 5-11 at 146,100 RB... Weekly: ICE cotton futures post extend fall for sixth s... USDA revises 2023-24 global cotton ending stocks estima... Cotton (Akola) Positive Short-term Trend / Next Resist... more Top 5 News Kadi (Gujarat) Cotton Seed Trading in a Range (Rs. 545... Soy Refined Oil (Indore) Trading Near Key Resistance (... US cotton net export sales for April 5-11 at 146,100 RB... US soybean net sales for April 5-11 at 485,800 MT, up 5... Black Matpe (Urad) SQ Burma (CNF$) Positive Trend / Ne... Top 5 Market Commentary ICE/ZCE Daily Rates Update ( Time: 20:19 ) - 19 APRL 2... DCE Daily Rates Update ( Time: 20:18 ) - 19 APRL 2024 Clove Prices Remain Stable Across Key Markets Domestic Pepper Prices Decline; Vietnamese Prices Recov... Market Wise Urad Arrivals: Supply Up By 12.2% Against P...