Technical: Guargum Jodhpur Spot : Accumulate

Dated – 08/09/17

Guar Guam - Jodhpur Spot - last close-8196 - Accumulate



Accumulate at 8196 to 8000 as the opportunity arises.

Bull Market appears to have begun after the up trend that was seen in last couple of months. Resistance is at 8280-8300.

Further breakout and close above 8300 can set rally to 10028 and 12110. Prices are above both the averages and 55 VA is above 89 VA.

Support may be witnessed on the averages which are placed at 7419 and 7569. Overall till 6800 is not violated correction can lead to a consolidation to eventually show a rally past the lower top of 8300.

Conclusion
Accumulate at lower level as consolidation for a bull market rally may happening.

(By Commoditiescontrol Bureau; +91-22-40015533)