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Technical : Chana Chickpeas Indore Spot : Trend Is Still Down

21 Dec 2017 2:03 pm
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Dated – 21/12/2017


Technical : Chana Chickpeas Indore Spot : Trend Is Still Down

CHANA- Chickpeak Indore - Last Close : 4150 - Trend Down With Bearish Market Slide




Trend is down as prices are below both the average and falling.

The 55 VA is below 89 VA indicating a bear market and rise to averages will provide resistance till composition is bearish.

Expect the level of 3400 to be tested in near term with volatility.

Resistance will be at 4600-4700.

Conclusion

Trend is down and expect lower level to be tested till reversal is not witnessed from 3400 level.

       
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