Dated 05/01/2017
Castor Seed Deesa- Last Close-3705 -04/01/2017: Breakout Essential
.png)
Resistance is at 3800.
Further rise is above 3800 closing and above the falling trend line.
Failure to sustain above the trend line in near term can lead to correction and consolidation
Correction and retracement levels are placed at 3429-3331-3244.
In the event of a breakout and close above 3800 then expect a rally towards 4155 the next lower top.
Conclusion
Traders may take profits at current level to 3800 as the opportunity arises.
Short term correction to the retracement level of 3429-3331-3244 can be used for accumulation as long as 2850 is not violated.
Breakout and close above the trend line is essential to extend the rise in the current up trend.
0 Comments 
Post Comment 
