Dated 14/11/2017
Technical: Mustard Oil Kachhi Ghani Jaipur Spot: Expect 820-849 to be tested in near term.
Mustard Oil Kaachi Gani- Last Close- 795- Expect 820-849 to be tested for near term.
Up Trend has resume as prices are above both the averages.
The bull market also will resume as 55 VA is marginally below 89 VA.
The 55 VA is at 773 and 89 VA is 775.
The pullback retracement levels are placed at 820 and 849.
If it is Wave d then may test 820-849 and reacted for Wave e to end Wave B and rally for Wave C will resume.
If Wave B is terminated at 702 then 849 will be crossed. If sustains above 849 then expect further rally to 935 and 1080 for medium to long term basis.
Overall will depend on how price sustain above 775 and 849.
For near term to short term expect 775, 720 and 849.
Support will be at 773-770. A fall and close below 770 will resume back the down trend.
Conclusion
Expect 820-849 to be tested in near term with volatility.
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