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Technical : Sugar M Grade Delhi : Correction Continues

31 Jan 2018 1:23 pm
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Dated 31/01/2018


Technical : Sugar M Grade Delhi : Correction Continues

SUGAR M GRADE DELHI : Last Close : 3113





Trend is down as prices are below the 55VA and 89 VA.

Bull market structure likely to dismantle.

A retracement of the rise from 2415 to 3929 is being witnessed now.

The 61.8% retracement levels are placed at 2966.

The low registered on the correction till now is 3113.

The 61.8% of 2966 is likely to be tested.

Conclusion

Correction phase is in progress to test 3162 and 2966.

       
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