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Technical: Cotton Seed-Kadi : Reversel Being Witnessed

11 Oct 2017 5:48 pm
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Dated 11/10/2017

Cotton Seed Gujarat Kadi- Last Close (Mean)- 455 : Reversal being witnessed

Daily Full chart as per Available Data



Reversal has been witnessed as prices are above both the averages. But 55 VA is below 89 VA which means that bull market is yet to resume but surely up trend is in place.

Expect near term rise towards 483 as lower top of 450 is crossed. If sustains above 483 then rise will extend for 548. For the time being near term to short term expect 483.

Support will be at 425-410 for consolidation.

Conclusion
Expect consolidation on any correction to 425-410 as near term rise towards 483 or above is likely in near term.


       
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