Technical: Guargum Jodhpur - Correction Is In Progress

Dated 26/06/2018
Guar Gum Jodhpur- Last Close - 7563 Correction Is In Progress



Correction for a possible Wave (e) is in progress and retracement level is placed at 7000.

Price is below 55 VA and 80 VA which shows the current down trend.

Resistances from averages are at 8163 and 8340.

A rise and close above 8340 with bullish candle can resume the uptrend and reversal.

Lower level of 7000-6700 could be tested for support.

Conclusion
Current trend is down and lower support is likely to be tested.