Technical: Mustard Cake Jaipur Spot: Expect near term rally

MUMBAI (Commoditiescontrol) -

MUSTARD CAKE- last close 1750 - Expect near term rally



Price is above 55VA but around 89 VA.

The 55 VA is below 89 VA which still suggest bear market.

Up Trend can resume if sustains above 89 VA which is at 1719.

The 61.8% retracement of the last fall from 1845 to 1575 is at 1767.

If Mustard Cake sustains above 1719 then expect a rise towards 1767.

High till now is 1750 and expect 1767 to be tested. On further sustained rise above 1767 then rally to 1825 can be witnessed.

Conclusion

Expect near term rise towards 1767 and subsequently high if sustains.

(By Commoditiescontrol Bureau; +91-22-40015516)