Technical : Chana Chickpea Indore Spot: Expect consolidation at lower range

CHANA- CHICKPEA INDORE - last close : 4575 - Expect consolidation at lower range

Trend remains down and prices are in bear market as 55 VA is below 89 VA.

Support is at 4450-4150.

Bounce and recovery from 4450-4150 can be witnessed.

Trend remains down and pullback with the down trend from lower level can happen.

The averages are placed at 5375 and 5663.

Consolidation at lower level of 4150-4450 may happen.

A fall and close below 4100 in time to come can extend the slide towards 3475.

Conclusion

Lower levels to be under pressure as prices will attempt for reversal from support. However, trend will remain down to sideways even as it tries to reverse from support. Downside could be limited.