Dated – 20/02/2017
CHANA- CHICKPEAK INDORE - last close-17/02/2016- 5425: Trend is still down
(Weekly Chart)
Wave a is in progress and may end at current level of 5425 or at 4150.
Bounce can happen from current level to 4150 for a pullback.
Indicators are in oversold zone and lower range in near term could bottom out at or around 4150.
Sustained fall below 4150 can lead to a sustain slide again.
Upside can be to 6200 for resistance.
Trend is still down.
Conclusion
Expect the level of 4150 to be tested.