Buy Wheat on dips; sell Gur, Turmeric on pullback: Geojit

Pepper Aug NCDEX: Positive sentiments are still on cards as long as prices hold the support of 42500. For the day, if prices consistently trades above the same major reactionary rallies may witness towards 43500 followed by 43800/44000 levels. Moreover, MACD positive crossover is also suggesting a bullish outlook. On the other hand, a direct fall below the support of 42500 a mild profit booking towards 42000 is favoured followed by a bounce back.

Wheat Aug NCDEX: After a major upside breakout occurred at 1315, we saw a skyrocketing in prices yesterday. Therefore for the day, we expect the prevailing trend likely to continue towards 1360 followed by 1380 levels. Moreover, a substantial increase in volume on the daily charts also supporting the bullish sentiments. Conversely, a break of 1280 is required to negate the current bullish outlook.

Turmeric Aug NCDEX: A bearish engulfing pattern on the daily charts implies an immediate lower correction towards 4600 followed by 4510 levels.

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