Dated 15/12/18
Cotton Seed Gujarat Kadi- Last Close (Mean)- 435- Accumulate on correction
Support will be at 426-413-395.
Resistance will be at 455-490.
Volatility has been witnessed in the wider band of 550 to 413 in last few days.
Resistance at higher range till 490 is not crossed.
Upside momentum can be witnessed above 490.
Accumulate at retracement of 426 and 395 as and when the opportunity arises and waits for uptrend to resume. Crossing of resistance of 455 and further above 490 can indicates up trend and upside momentum.
Conclusion
Correction to 426 and 395 is for accumulation.
Breakout above 550 is required eventually to maintain the momentum that resume above 490.
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