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Technical: Mustard Seed Jaipur- In Corrective phase

17 Jan 2017 12:53 pm
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Dated 17/01/2017

MUSTARD SEED JAIPUR- Last Close-16/01/2017-4250: In Corrective phase


In the above monthly chart, Wave (b) of larger degree is in progress.


Internal of Wave c of Wave (b) is in progress which can end at the demand zone created by the bottom of Wave a.


The demand zone is 4000-4250.


Recovery from demand zone may be witnessed.


Reversal can resume on rise below 4500.


Conclusion


The demand zone 4250-4000 is being tested. Support at lower range and reversal from lower range cannot be ruled out.


       
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