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Commodity market is trading at lower end after participants off-loaded partial positions, taking weak cues from the global market as stronger dollar trimmed demand for the precious metal as an alternative investment.Our Experts,said a weak trend in the overseas markets as investors cut holdings of the metal after the dollar gained and data showed an improving US economy, mainly weighed on the gold prices at futures trade here.
NCDEX Agri Updates :- Pepper May NCDEX: Prices recovered from the support of 35525 and closed at 35825. It has to break and sustain above the key resistance of 36100 for starting the next leg of bullish rally towards 36500/36900 levels. Unsuccessful attempts to trade above 36100 would see selloff towards 35350 levels for the day. Daily RSI is slowly turning lower, suggesting possibilities of further sell off.
Turmeric May NCDEX - As long as prices stays above the support of 6550, expect a move higher towards 6790/6850 levels in the near term.
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