Technical: Sugar M Grade Delhi- Correction Continues

Dated 26/03/2018

Sugar M Grade Delhi- 3115- Correction Continues

Trend is down as prices are below the 55VA and 89 VA.

A retracement of the rise from 2415 to 3929 is being witnessed now.

Retracement levels are placed at 3020 and 2943.

Expect retracement levels to be tested before moving higher or showing reversal from correction phase.

Resistance is at higher range of 3165-3245.

Breakout above 3245 can resume the rally.



Conclusion

Correction phase is in progress to test 3020 and 2943