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Tuesday, October 20, 2015

Update on Turmeric 20 Oct 2015




Turmeric




Trading in a range from last few trading sessions and now trading around 8350







TMC has support at 8000---7600 and Resistance at 8850


It looks positive on charts and could test its resistance level of 8700---8850. Three consecutive closes + weekly close above 8850 will see nonstop rally in TMC till 9800---10500+ mark in days to come


TMC is forming triangle pattern on weekly chart from lower levels along with it cross over of MACD and RSI too give support to our view. Downside target seems limited and any sharp panic will be buying opportunity


So traders can buy and accumulate TMC around 8300 and in panic with stop loss of 7600 on closing basis.




More will be update soon!!