Technical : Castor Seed Deesa Spot : consolidation Is Being Witnessed 16 Jan 2018 3:44 pm   0 Comments  |   Post Comment  |  Font Size A A A  Dated 16/01/2018 Technical : Castor Seed Deesa Spot : consolidation Is Being Witnessed Castor Seed Deesa- Last Close (Mean)- Last Close :3950 Retracement for rise from 2950 to 4965 is placed at 4154-3907-3674. Bull market is in place as 55 VA is above 89 VA. The averages are placed at 4213 and 4134 . Further rally is above 4965. On breakout and close above 4965 expect 5660 and 6120. Correction that is being witnessed currently is for Wave 2 of Wave (c) or Wave b of Wave (e). Once the current confirmation of correction is complete expect a rally to 5660-6120. Accumulation and support at retracement level of 3907-3674 can be witnessed from medium to long term perspective. The view for medium to long term is for higher price unless sharp fall and close below 3674 is witnessed. Conclusion Long term trend appears to be up and correction in near term to short term appears to be opportunity for accumulation. Physical may accumulate at lower prices and rally with volatility of higher top and higher bottom formation is likely to be in place.   Rate this story Rated 0.0    Post comment Comment : Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy. Name :   Email :       Post Comment		Latest Special Reports Fed Decision Spurs MCX Surge: Record Gains Unveiled more Top 5 News Canadian Lentil Prices Hit Record Highs, Outlook Remain... Canadian Chickpea Prices Hit Record High, Outlook for 2... Canadian Dry Pea Market Sees Price Rise Despite Export ... Kadi (Gujarat) Cotton Seed Trading in a Range (Rs. 545... Soy Refined Oil (Indore) Trading Near Key Resistance (... Top 5 Market Commentary Cotton Prices Hold Steady in North Indian States; Daily... Solapur Pulse Market: Tur Prices Decline; Chana Prices ... Tamil Nadu Civil Supplies Corporation Invites Tenders f... ICE raw sugar futures end mixed ICE cotton futures end week on a higher note