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Technical: Black Pepper Kochi: Further Downside Momentum Is Below 391 Closing

16 Apr 2018 5:57 pm
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Dated 16/04/2018
Black Pepper Garbled Kochi- Last Close- 392 - Further Downside Momentum Is Below 391 Closing



Trend is down as prices are below the averages.

The 55 VA is below 89 VA indicating a bear market.

Exit long till the recent peak of 478 is not crossed.

Further weakness is below 391.

The 55 VA and 89 VA are likely to offer resistances which are placed at 413 and 423.

On sustained fall and close below 391 expect slide to 382 and 366.

Conclusion
Downside movement is below 391 closing.

Objective remains to exit long till reversal indication are not witnessed.


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