Technical: Sugar M Grade Delhi- Up Trend In Progress

Dated 12/1/2017

SUGAR M GRADE DELHI- Up Trend In Progress

Last Close: 3915

Wave (c) is in progress and correction that was expected in the last update did not happen as support of 3682 was not violated.

Resistance will be at 3955.

On further sustained rise and close above 3955 expect a rally towards 4305 at least.

Subsequently if breakout above 4305 is witnessed then prices can scale to 4827.


Conclusion

Up Trend in progress and correction is below 3682