Dated - 12/01/2018
Jeera Unjha- Last Close- 20475- Trend Line Resistance
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Prices are above both the averages.
55 VA is above 89 VA indicating bull market.
Trend line resistance is visible and further breakout on sustained basis above 22000 will be required to extend the rise to 23400.
Correction could be happening from here on if 22000 is not crossed.
Topping pattern appears to be developing unless immediate sustained rise above 22000 is witnessed.
Averages are placed at 20200 and 19900.
Conclusion
Extended rise can happen if sustain above 22000. Correction can happen to average if does not sustain. Trend is up therefore correction and consolidation can be witnessed on correction to averages.
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