Technical: Mustard Oil Kacchi Ghani - Correction In Progress

Dated 14/05/2018

Mustard Oil Kacchi Ghani- last close- 773 . Correction in progress



Correction is in progress for Wave e which may test 760, 748 and 706.

Resistance will be at 789 and 815.

Expect lower level of 760-748 to be tested in near term with volatility.

Wave e could be end if averages are crossed.

The 55 VA and 89 VA are placed at 784. A rise and close above the same could resume the new up trend.

Conclusion
Correction for Wave e is in progress and may end at 760-748.

Trend is down therefore objective remains to exit long till reversal indication not witnessed.

Reversal could be happening therefore lower level can attract support.

Reversal can be resume if sustains above the averages.