Technical: Chana Indore- Expect Consolidation At Lower Range

Dated – 09/08/2017

CHANA- CHICKPEAK INDORE - last close:5225 - Expect consolidation at lower range

Weekly Chart

The last bottom of 4600 is likely to be tested.

Resistance is at 5050-5200.

Trend is down and lower levels are likely to be tested with volatility.

Consolidation at lower range is likely to be witnessed at 4600 or around it.

Further at 4300-4150.

Resistance is at 5450.

Conclusion

Expect down trend and consolidation to be witnessed till 4600 is not violated.

Overall accumulation could be happen and swing bottom will be around 4600 or have made it or can form around 4300-4150.

Upside rally to DRV-5752 is likely considering limited downside.