Technical: Chana Indore- Expect Resistance To Be Tested

Dated –17/08/2017

CHANA- CHICKPEAK INDORE - last close : 5612 - Expect resistance to be tested

Weekly Chart

Price reversal appears to be in place and close above DRV on sustained basis will confirm the reversal and of correction/down trend.

DRV is at 5745.


Resistance will be at 6200-5700.

Expect resistance to be tested in near term.

Sustainability will be key at resistance from reversal point of view.

Conclusion

Expect near term rise to DRV-5745 to 6200 range. Expect sideways movement or consolidation at lower range till 4600 is not violated.