Technical: Chilli Guntur - Lower Levels Attained As Expected

Dated 10/05/2017

CHILLI Guntur- Last Close-09/05/2017: Lower Levels Attained As Expected

Monthly Chart

Reversal can resume above 5500.


The expected level of 4545 has been attained.


Trend remains down and the fall has been sharp on sustained basis on downside.

As the down trend continues, expect the next level of 3892-3690 to be tested unless reversal is seen.

Conclusion

Down Trend continues for next level of 3892-3690 unless reversal is witnessed.

The fall has been sharp therefore in near term reversal can resume from current level or from 3892-3690 levels.

A rise and close above 5500 can mark a reversal and till then lower level to be tested with volatility.