Dated 25/03/2017
WHEAT SPOT DELHI- Last Close-1910 – Pull back is above 1975
Monthly Chart
The rise from 1464 to 2391 during the period April 2015 to November 2016 was retraced to 1813 which is 61.8% retracement.
Resistance will be at 1975-2088-2092.
Support is at 1825 and 1770.
Conclusion
Expect support and consolidation at lower level or in the range of 1824-1770.
Near term reversal can resume above 1975 closing.