Technical: Cotton Bales Rajkot- Pullback Up Trend Is Likely

Dated 11/01/2017

COTTON BALES – Rajkot-Last Close-19810 – Pullback Up Trend Likely

Correction appears to be complete for Wave iv and Wave v could be in progress unless immediate fall and close below 18270 is witnessed.

Upper level and range for Wave v can be 21260-23590.

Trend appears to be up for near term as long as remains above 18270.

Conclusion

Pullback up trend for Wave v appears to be in place,