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Technical: Chilli Guntur - Trend Is Still Down

25 Jan 2017 12:11 pm
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Dated 25/1 /2017

CHILLI GUNTUR- MONTHLY CHART - last close-24/01/2017-7740: Trend still down


(Monthly Chart)


Wave a of larger degree Wave B is in progress which may end at the retracement levels of 6338.


Reversal and close above 9673 can halt the Wave a of Wave B as swing bottom could be in place for Wave b of Wave B.


Trend is down and the momentary bias is to move lower with intra-week volatility.


Lower range for fortnight can be 7353-6193. Resistance for next fortnight can be 9102-9342.


Conclusion


Expect Lower Range To Be Tested


       
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