Technical: Chana Indore- Sideways Consolidation

Dated – 7/07/2017

Weekly Chart

Consolidation and sideways movement above the last swing bottom and in the demand zone of 5200-4600 could be seen.

Resistance will be at 5700-6200.

Lower range can attract sideways movement for consolidation.

As long as the bottom of 4600 is not violated expect consolidate lower levels around it or in demand zone of 5200-4600.

Conclusion

Consolidation is likely in near term to short term.