NCDEX Turmeric under long liquidation Resistance seen at 6296
India, Jan. 23 -- Technically Turmeric market is under long liquidation as market has witnessed drop in open interest by 3. 71% to settled at 5065 while prices down 26 rupees.Now NCDEX Turmeric is getting support at 6196 and below same could see a test of 6154 levels and resistance is now likely to be seen at 6296 a move above could see prices testing 6354.Turmeric on NCDEX settled down by 0.42% at 6238 due to continuous supply in the spot market as a result of increased mandi arrivals and expectation of higher production in the crop year 2019-20 amid weak demand.Turmeric supply reported higher in the spot market as stockists were releasing their stocks. Sufficient carryover stocks and sluggish demand from domestic and overseas buyers weigh...
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