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Technical: Kabuli Chana Indore - Further Weakness Is Below 5700

16 May 2018 9:34 am
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Dated 16/05/2018

Chickpea (Chana)- Indore- Kabuli 42-44 Count- Last close-5950- Further weakness is below 5700



The Wave structure show a flat pattern based on available data.

Wave c is in progress which may end at or around 5900 or below.

Resistance is left at higher range 7500-8300.

Reversal process can resume above 8300.

Pullback may happen from current level towards the resistance.

If sustains below 5700 expect a slide further till reversal indication is not witnessed.

Conclusion
Expect support at current level to 5700 for minor pullback. Downside momentum can continue below 5700.


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