Technical Outlook & Trading Strategy:-
The price of Turmeric has witnessed a smart recovery from the lows of Rs 7110 levels 17th June, 2011.
Since it recovered from these lows the prices have been taking support at its key moving average clusters on the daily charts and the key momentum indicators are also trading in buy mode and are not showing any signs of weakness.
A break above the near term resistance of Rs 7930 levels will see the price of turmeric rally towards the Rs 8200 and/or Rs 8325 levels.
Thus, traders can look to buy on a break above Rs 7930 levels with a stop loss of Rs 7797 levels for upside targets of Rs 8200/ Rs 8325 levels.
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