Dated 25/1 /2017
CHILLI GUNTUR- MONTHLY CHART - last close-24/01/2017-7740: Trend still down
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(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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