Technical: Sugar M Grade Delhi- Attempt Of Breakout Possible

Dated 24/5/2017

SUGAR M GRADE DELHI - 3940 - Attempt of breakout possible

Resistance is at 3970.

Further breakout and close above 3970 can set a rally to 4145-4305.

Support will be at 38985-3795.

Conclusion

Sideways movement prevails. Expect breakout above 3970 with the current up trend. The movement has been more a sideways movement.

Directional movement above 3970 likely in near term.