Dated 1/10/2018
Sugar M Grade Delhi- 3245 - Consolidation Correction Could Be Seen
The view mentioned in last update remains the same.
Correction continues and the same was indicated in the previous update.
Correction to retracement of 3102-3018-2925 is likely to be witnessed for consolidation.
Subsequently, a breakout above 3400 can set a rally to 3800.
Consolidation for near term to short term could be seen before a breakout.
Eventually, a breakout and close above 3420 is essential to show higher price.
Conclusion
Correction can be for accumulation as it is likely to be for consolidation before a new breakout.
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