Dated 10/08/2017
COTTON BALES – Rajkot-Last Close- 20520 – sideways movement likely
Monthly Chart
Correction can continue if fall and close below 20040 is witnessed.
Resistance is at 20600-20800-21100.
Further rise is above 21100 and will confirm a rising leg up towards 22300-23500.
Conclusion
Near term support of 20000 critical and upside momentum is above 21100.
Currently sideways movement between 20000 and 21100 is likely.