Dated : 07/01/2019
Cotton Bales Rajkot- Last Close-20960- Retracement To Provide Support
Retracement of the rise from 18170 to 23440 is likely to be witnessed.
Retracement levels are at 20716-20111.
The low in last few days has been 20720.
Further weakness and correction is below 20720 and subsequently can test 20111.
Resistance will be at 20900-21380-20720.
A fall and close below 20030 in time to come will extend the slide towards 19280-18080.
Conclusion
Correction towards retracement levels of 20716-20111 can be for accumulation.