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Technical: Guar Seeds Bikaner- Expect Resistance At Higher Range

24 Jan 2019 3:36 pm
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Dated - 24/01/2019

Guar Seeds Bikaner- Last Close- 4282.5 Expect Resistance At Higher Range

A pullback is witnessed on monthly consolidated bar chart.

B Structure pullback looks to be in place as a result of volatility and overlapping of swing top and bottom.

Resistance will be at 4400-4650-4775.

Support will 4125-4050.

Down movement will resume below 4040.





Strategy

Resistance is seen at higher range and till the breakout above 4775 is not witnessed upside momentum cannot be witnessed.

Expect resistance and supply at higher range till 4775 is not crossed.

Accumulate if fall to 3730 or below with stop loss of 3530.

Expect profit booking pressure at higher registered range of 4550-4775.




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