Technical: Chana Indore- Trend is still down

Dated – 4/02/2017

(Monthly Chart)

Wave c of Wave 4 is continues after the last update.

The support of 6000 was violated and low registered was 5200 and recovered to 6050.

The last breakout point was 5300 and the same was tested and bounce was witnessed.

As a result of the fall below 5300 which Wave 1 of the earlier rise top.

The same has got overlapped which has lead to a modification of the count.

Wave 5 is terminated at the peak of 10800.

Wave a is in progress which has ended at 5200 or would end at 4150.

Further down move will continue below 5200.

Reversal will be confirmed form the fall on rise and close above 7000.

Downside move below 5200 could be up to 4150.

The lower side and bottom range for Chana could be in the range of 5200-4150.

Trend is still down and bottom process is in progress.

Conclusion

Chana price are in the lower end of the down trend and could end at current or in the range of 5200-4150. Trend is still now reversal confirm is awaited.