Technical: Soya Bean Meal Indore: Accumulation On Correction

Dated 25/04/2018

Soya Bean Meal Indore- Last Close : 30300 Accumulate on correction

Trend line breakout is necessary to extend the rise.

Wave i of Wave C is in progress.

Resistance comes from the trend line for Wave i.

Wave ii of Wave C or Wave e could test the 55 VA and 89 VA which are at 29195 and 26883.

If sustained rise and close above 33000 is witnessed then expect a rise towards 43000.

Conclusion
Correction to 29195 and 26883 can be for accumulation for target level of 39000-43000.

Traders already long can take some profits at 30000 or above till 33000 is not crossed.