Technical: Cotton Bales Rajkot - Sideways Movement Likely

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.