As mentioned in our previous blog, NCDEX Turmeric (TMC) prices are traversing along an upward sloping channel and that prices have a strong support at 6900 levels; The TMC Prices have made a good comeback from those levels. The prices have successfully broke 7600 levels on the upside and the downward sloping trend line. Moreover, prices have completed a head and shoulder pattern on daily chart with a solid break out today. NCDEX TMC prices for September month contract closed at circuit at 7796 levels.
CommTathya Research desk maintains positive outlook for TMC prices in the short run. We expect prices to gain another 10% upside from current levels to test 8600 levels in the short term period.
Categories: Commodity Market News