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CS TURMERIC (OCT.) OVERVIEW:
Indian turmeric futures fell on Thursday on hopes of higher output as the weather remained conducive for crop growth and on mounting stocks. Turmeric cultivation usually starts in the last week of May and continues until August. A lengthy harvesting process starts from January.Crop is in good condition as the weather is favourable. Higher carry-forward stocks and weak local demand are keeping prices firm. Turmeric sowing is complete in the major growing regions and the weather is favourable for its growth.
TREND CONSOLIDATE
SUP1:4770,
SUP2:4660,
RESIST1:5110,
RESIST2:5180,
TRADING STRATEGY: SELL ON RISE.
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