NCDEX turmeric slumps, resistance at Rs.:4470-4515Turmeric prices in the intraday are likely to witness uptrend due to improved buying at support levels.
However,
prices in the short term (March) are expected to remain down due to
peak arrival period and dull demand from the domestic and overseas
buyers.
In the medium to long term prices are expected to track demand from the overseas and domestic buyers.
If
prices fall below 3800/qtl farmers might start hoarding the stocks and
may not sell at lower levels, thereby supporting prices to strengthen.
Turmeric NCDEX Apr Futures Rs/qtl 4270-4300 resistance:4470-4515
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