Technical: Mustard Seed Jaipur- In Corrective phase

Dated 17/01/2017

MUSTARD SEED JAIPUR- Last Close-16/01/2017-4250: In Corrective phase

In the above monthly chart, Wave (b) of larger degree is in progress.

Internal of Wave c of Wave (b) is in progress which can end at the demand zone created by the bottom of Wave a.

The demand zone is 4000-4250.

Recovery from demand zone may be witnessed.

Reversal can resume on rise below 4500.

Conclusion

The demand zone 4250-4000 is being tested. Support at lower range and reversal from lower range cannot be ruled out.