NCDEX Turmeric under short covering Support seen at 6363
India, Jan. 20 -- Technically Turmeric market is under short covering as market has witnessed drop in open interest by 1. 33% to settled at 5555 while prices up 30 rupees.Now NCDEX Turmeric is getting support at 6363 and below same could see a test of 6321 level and resistance is now likely to be seen at 6437 a move above could see prices testing 6469.Turmeric on NCDEX settled up 0.47% at 6406 in anticipation of the declaration of minimum support price (MSP) for the spice by Andhra Pradesh.Prices have increased at a time when the spice industry is waiting for a fresh harvest in February-March.The next crop is expected to be a good one as sowing has increased in Telangana Andhra Pradesh and Maharashtra because of good rains. The crop in Tami...
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