KAPAS, Guargum, and Turmeric: Market Trends and Insights

Guargum Prices Set to Soar: What You Need to Know

On the NCDEX, guar gum has formed an Elliott Wave cycle, with the final Wave E of Wave (4) approaching completion. A confirmation above Wave D could shift the entire outlook in favor of buyers. From a price action perspective, 9830 serves as a strong support level, while 13,650 acts as a supply zone, both of which have remained significant for over four years. Wave D represents a critical midpoint, ensuring a push toward the upper supply zone once the price sustains above this level or Wave D.

If the price has completed Wave (4) and has broken above Wave D, it is likely to reach the upper boundary of the value area, around 13,650. However, with the ADX (Average Directional Index) at 17, this suggests a weak trend, indicating that the current price movement lacks strength. If the price closes below the demand zone at 9,830, it could delay the expected bullish move. Traders should wait for confirmation before entering a long position to ensure a stronger trend.

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Turmeric Futures: A Bullish Trend or Market Correction Ahead

NCDEX TMCFGRNZM is showing signs of potential growth, but the increase so far hasn’t been significant. According to Elliott Wave analysis, the price has formed an impulsive pattern, with wave (c) of wave ((4)) reaching a level of 13,000.

The price is currently in the final wave ((5)) of the impulsive cycle. For this to confirm the impulsive movement, the price needs to break above the level of wave (B), which is at 16,590.

A strong resistance is expected at wave B, and if the price breaks through this level, it could boost the bullish momentum, leading to a new high. However, without this confirmation, the price may not be suitable for long-term investment and could remain in a corrective phase.

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KAPAS: Unveiling the Future Potential