Technical: Castor Seed Deesa: Correction/Consolidation In Progress

Dated 23/04/2018

Castor Seed Deesa- Last Close (Mean)- Last Close-: - 3950- Correction/Consolidation In Progress



Correction that is being witnessed currently is for Wave 2 of Wave (c) or Wave b of Wave (e).

Retracement levels are being tested which are at 3890 and 3649.

Once the current confirmation of correction is complete expect a rally to 5660-6120.

The view for medium to long term is for higher price unless sharp fall and close below 3650 is witnessed.

Conclusion
Long term trend appears to be up and correction in near term to short term appears to be opportunity for accumulation.

Physical may accumulate at lower prices and rally with volatility of higher top and higher bottom formation is likely to be in place.