Dated 06/09/2018
Cotton 1 Bales Rajkot- Last Close-23060- Minor Near Term Correction Possible
The last peak of 23210 was tested as the high registered in last few days is 23410.
Retracement of the rise from 18170 to 23440 is likely to be witnessed.
Retracement levels are placed at 22180-21440-20790.
Averages are at 21864 and 21271 which can be tested on correction.
Conclusion
Expect profit booking pressure for near term correction.
Correction towards retracement levels of 22180-21440-20790 can be for accumulation.
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