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Technical : Guar Seeds Bikaner Spot : Sideways Phase Is In Progress

21 Nov 2017 3:00 pm
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Dated 21/11/2017


Technical : Guar Seeds Bikaner Spot : Sideways Phase Is In Progress

GUAR SEEDS BIKANER- Last Close- 3680 : Sideways/Correction Phase In Progress

Daily Chart Available Data







The 55 VA is above 89 VA but price is fluctuating around the averages.

The average are flat and horizontal which suggest sideways movement for near term.

Further weakness is below 3500.

The 61.8% retracement has been tested which is around 3550.

Upside momentum is above 3775.

Consolidation could be happening at current level of 3650-3500.

Downside movement will resume below 3500.

Subsequently, Guar Seed prices will slide towards 3300-3200.

Conclusion - Sideways consolidation phase to emerge.

       
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