Technical : Turmeric Nizamabad Spot : Correction Is Being Witnessed
TURMERIC Nizambad- Last Close: 6800
Wave (e) retracement levels of Wave (d) are 7286-6940-6675-6358.
The low registered till now is 6626
Expect 7205 to be tested.
The average will provide resistance which is at 7205.
Overall breakout and close above 7700 is essential for rally.
Correction can extend to 6360.
Conclusion
Correction is in progress towards 6360 or below and can be used for accumulation on the expectations of Wave e termination which can happen at 6675-6360 or at trend line of 5884.Lower levels are likely to be tested before moving higher as upside faces resistance.
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