Technical: Cotton Seed Oil Cake - Consolidation Could Be Witnessed

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Technical: Cotton Seed Oil Cake - Consolidation Could Be Witnessed

20 Jun 2017 12:22 pm

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Dated 20/06/2017

Cotton Seed Oil Cake Kadi - last close - 1864 - Consolidation could be witnessed

Monthly Chart

Support will be at 1820-1748-1658.

Resistance will be at 1920-1893.

Near term rise can be seen on close above 1920.

Subsequently pullback towards DRV is likely to be seen.

Downside breakdown and below 1658 and till then cover short position or accumulate.

Conclusion

Near term rise is possible as long as 1658 is not violation.

Correction from current level or below can be for consolidation for near term rise.

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