Dated 21/03/2017
Lentil (Masoor) - Canada Crimson – last close- 20/03/2017- 4250: Bounce Witnessed
Weekly Chart
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Bounce has been witnessed from the trend line shown in the chart.
Expect a pullback towards the DRV which is around 4520.
The trend is down and pullback within the down trend for near term can be witnessed as long as the recent bottom of 3750 is not violated.
RSI exit the oversold zone which can enable a near term rise on volatility.
Support will be witnessed at lower range of 4100 or below.
Conclusion
Trend is down but cover short position as near term rise to 4520 could be witnessed.
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