Posted by : Niti Mathur
The trend in turmeric August futures conveyance on NCDEX is extent bound and 5800-6050 is the possible go for the commodity. Then again, the Commodity may witness short covering at current levels. Break out of any of the sides of the reach 5800-6050 is expected to give clear trend to the ware costs. NCDEX turmeric for August conveyance was seen exchanging around 0.8% at Rs.5984 for every 100 kgs starting 10.59 AM IST on Tuesday. Turmeric spot costs neglected to record an up-tick on Monday because of quelled request. Turmeric arrivals in Erode and Nizamabad spot markets were around 2500 packs (1bag=70kgs) and 2000 sacks, separately.
MCX Gold: MCX Gold Aug futures trend seems weak on technical chart intraday traders can sell MCX Gold on rise. A strong support range is seen in range of 26300-25900. On upside resistance range is seen at 26600-27200. We advised to Sell MCX Gold on Higher levels.
MCX Silver: As the Bullions are looking weak today, MCX Silver Sep. futures is also looking bearish, Intraday traders can sell on dips Major support is seen in range of 40800-39800. While resistance is seen near 41500-42300. We suggest to sell Silver on High as today's Commodity Tips.