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Technical: Black Pepper-Expect Consolidation Attempt At Lower Range

8 Jan 2019 5:55 pm
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Dated 08/012019

Black Pepper-Garbled Kochi- Last Close-380- Expect Consolidation Attempt At Lower Range


Support will be at 374-370.


Resistance will be at 385-391.


Correction can end on rise and close above 391 and will subsequent breakout above 414 to establish a major reversal.


Overall trend has been down as can be visible in the falling chart.


First attempt of spike seen from the bottom of 340 to 414 and to confirm major reversal eventually will have to cross 414.


Support cluster could be seen at 374-370, 353 and 340.



Conclusion


Consolidation at support could be seen at correction further down to 370-353 can be sued for accumulation. Breakout above 414 can set a rally. Expect consolidation at lower range.


       
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