Dated 15/02/2017
Sun Flower Oil- Kakinada Last Close-710 (15/02/17): Sideways Correction Mode For Near Term
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(Monthly Chart)
Correction will continue for Wave c on fall below 688.
If the fall is below 688 the retracement levels will be tested.
In that case retracements of the rise from 580 to 740 are at 680 and 657.
Breakout and close above 725 is essential.
Expect sideways movement between 688 and 725.
Conclusion
Corrections towards retracement level likely therefore accumulate at retracement level of 680 and 657 as and when the opportunity arises.
Traders point of view expect momentum above 725.
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