Technical: Sugar M Grade Delhi- Further Rise Is Above 3970 Closing

Dated 10/04/2017

SUGAR M GRADE DELHI- last close-3870 Further rise is above 3970 closing

Monthly Chart

Expect higher range of 3950-3970 to be tested.


Weakness can resume below 3795.

Upside momentum will continue above 3970.

Correction can resume below 3795.

Next lower point and higher bottom is at 3682.

Violation of 3682 will mean higher bottom violated result into a large retracement of the rise from 2357 to 3970.

Retracement level will be at 3360.

Currently sideways movement between 3830 and 3970 is likely.

Conclusion

Correction is below 3795.

Expect higher range to be tested for sideways movement.