Technical: Dhaniya Kota Spot: Down Trend/Bear Market Continues

Dated 18/10/2017

DHANIYA KOTA- Last Close- 4627 : Down Trend/Bear Market Continues



Down trend and bear market is being witnessed. Down trend because prices are below averages and 55 VA is below 89 VA. Wave c is in progress which can end around the bottom of Wave 2.

Lower levels which are likely to be tested with volatility will be 4222 and 3800.

Resistance will be from averages on pullback

Resistance from averages will be at 5413 and 5940.

Conclusion
Trend still down.
Expect 4222 and 3800 to be tested in due course of time.