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Technical : Cotton Seed Kadi Spot : Expect Consolidation At Lower Range

10 Feb 2018 12:35 pm
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Dated 12/02/2018


Technical : Cotton Seed Kadi Spot : Expect Consolidation At Lower Range

Cotton Seed Gujarat Kadi- Last Close (Mean)- 397.5 (inr/20Kg)

Daily Full chart as per Available Data


Sideways oscillation around the averages is likely.

The 55 VA is below 89 VA which indicates that bear market is still in place even as trend may turn up or down as it closes above or below averages.

Support will be at 380, 370 and 338.

Consolidation at lower range can be witnessed but trend is down.

Wave c is expected to end now or around 380-370 and move u for Wave d which is near term trend line.

The trend line value is around 425.

Conclusion

Correction and down trend is in progress to test 380 or below levels.

Lower range of 380-370 can witnessed consolidation for minor pullback toward 425.

       
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