Technical (Cottonseed Oil cake Kadi) - Correction Towards Averages Can Be For Consolidation

Dated 21/04/2018

Cotton Seed Oil Cake Kadi- Last Close- 1704- Correction If Any Can Be For Consolidation

Trend line breakout situation has emerged.

A follow up rise above 1704 is required to confirm the trend line breakout.

A minor correction can be seen as a result of the spike.

Correction towards the averages 1513 could fine support.

A follow up rise and close above 1704 can set a rally to 1800-1950.

Conclusion

Correction towards averages can be for consolidation as follow up rise is likely to be seen with volatility.