Technical : RBD Palmolein Kandla Spot : Minor correction Possible Before Next Up Move
RBD PALMOLIEN KANDLA- Last Close- 635
Prices are above the averages 55VA and 89 VA.
The 55 VA is above 89 VA indicating a bull market.
Resistance of the peak 660-670 is being tested.
The b-d trend line breakout has been witnessed.
On sustained rise and close above 670 in time to come will set a rally to 900.
Correction to averages will be opportunity for accumulation.
The 55 VA and 89 VA are placed at 605 and 594.
Conclusion
Expect 660-670 to be tested for resistance.
On sustained breakout above the same can set a rally to 900.
A sustained bull market for near term to short term is likely.
Correction to the averages can be treated as opportunity for accumulation which can be for Wave ii .
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