Technical: Chilli Guntur - Support At Current Levels

Dated 21/06/2017

CHILLI Guntur- Last Close-21/06/2017: 5070- Support at current levels

Monthly Chart

Support is at current level of 5070 to 4500.

Recovery has been seen in last fortnight from support.

The low registered in last fortnight was 4446 and closed at 5070.

Therefore, further weakness is below 4400 and near term recovery and pullback is likely.

Resistance can be at 5500 and the same could be tested.

On rise and close above 5500 a rise towards DRV could be witnessed. The DRV has the falling slope therefore in near term could move lower.

Conclusion

Cover short position as consolidation could happen at current level to 4400.