Commodity Turmeric Sharp Decline @ Sell Turmeric

Turmeric futures ended down for the third straight session due to long liquidation. Heavy monsoon showers over turmeric growing regions, sowing activities have been progressing quickly and increased area under turmeric may weigh negative sentiments on the market. The prices are in uptrend on reports of forecast of tight supplies and good demand from the stockists.

The arrivals in the main physical markets such as Nizamabad, Duggirala (AP), Salem, Erode and Sangli reported decreasing compared to last week. Turmeric trade ended the day at Rs. 7920 per quin which is approx 3.13% down against its previous close. We recommend sell Turmeric futures during today’s trading session.

@ Sold NCDEX Turmeric around 8100 target 7900, 7700 Stop loss 8431

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