Technical: Barely Jaipur Spot - Resistance Till 1531 Is Not Crossed

Dated 13/12/2017

Barely Jaipur - Last Close- : 1513- Resistance Till 1531 Is Not Crossed

Monthly Chart



Prices in between the averages therefore immediate trend is flat and neutral.

The 55VA is below 89 VA therefore bear market is still being witnessed.

The averages are being tested.

The averages are placed at 1511 and 1530.

Trend will turn up if sustains above 1530.

Downside momentum is below 1510.

Traders short and holding the same can maintain the stop loss at 1530.

Pullback rally can be seen above 1531 closing.

Pullback retracement levels are placed at 1574-1622-1671.

If sustains above 1530 then expect a rally.

Conclusion
Resistance at averages therefore exit long and selling is the first objective.

If breakout and close above 1531 is witnessed the expect rally to 1571-1622-1671.

Sell is below 1500 for 1475-1450.