Dated : 27/09/2018
Cotton 1 Bales Rajkot- Last Close-22280- Near Term Correction In Progress
Retracement of the rise from 18170 to 23440 is likely to be witnessed.
Retracement levels are placed at 22180-21440-20790.
Averages are at 22020 and 21389 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.