Dated 27/03/2019
Wheat Spot Delhi- Last Close - 2070 - Correction Is Possible
The 61.8% retracement of the fall from 2392 to1722 has been witnessed.
The 61.8% retracement is at 2126 and the recent high was 2130.
A correction first of the rise from 1705 to 2130 will be witnessed before moving higher above 2130.
Retracement levels are placed at 2030-1975-1900.
Upside momentum can resume above 2130 whenever happens at the earliest.
Conclusion
Expect near term correction and objective remains to exit long till 2130 is not crossed.
Lower support of 2030-1975-1900 will be tested.
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