Technical: Cotton Seed Oil Cake Kadi - Pullback Rise In Progress

Dated 13/10/2016

Cotton Seed Oil Cake Kadi- Last Close- 1520- Pullback rise in progress



Trend is down as prices are below both the averages. The 55 VA is below 89 VA indicating a bear market in progress since March 2017. Bounce has come off from the earlier bottoms from the range 1355-1283 zones.

Cluster of bottom are visible and recovery has come from the same. A pullback towards average is being witnessed.

Averages are placed at 1586 and 1674.

Up trend will resume once sustain above the averages which are first likely to offer resistance.

Pullback to averages is being witnessed.

Conclusion
A pullback bear market rise is being witnessed towards 1586-1674 as swing bottom is in place for the time being at 1326.