Technical: Sugar M Grade Delhi - Sideways Movement is being witnessed

Dated 15/04/2017

SUGAR M GRADE DELHI- Last Close 3880- Sideways Movement is being witnessed

Monthly Chart

Further rise is above 3970 and till then expect sideways consolidation which is for time correction currently.

Price correction will happen if breakdown and close below 3682 is witnessed.

Support is at 3795 and 3682.

Resistance is at 3895 and 3970.

Conclusion

Sideways movement prevails. Decisive price directional cannot be suggested till movement is not outside the band of 3970-3682.