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Technical: Turmeric Nizamabad - Trend Further Down Below 7180 Closing

25 Jan 2017 12:17 pm
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Dated 25/01/2017

SPOT TURMERIC NIZAMBAD - MONTHLY CHART- Last Close-24/01/2017-7423 Trend Further Down Below 7180 Closing



(Monthly Chart)


Trend is down and oscillating around the moving average as shown in the chart.


Support cluster is at current level of 7339-7190.


Downside momentum for correction will continue below 7190 closing.


Reversal from correction will be witnessed if sustained rise and close above 7810.


Further lower level is 6660 below 7190.

Conclusion


Sideways movement is being witnessed and next directional movement for short term can be out of the band 7810-7190.

Downside momentum is below 7190 for 6660.


       
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