Dated 15/03/2017
SOYA BEAN DOC INDORE- Last Close-23000: Weekly Movement Flat between 23700 and 22500
Monthly Chart
Expect support at current level to 22500-22000.
A rise and close above 25000 can mark a reversal for a pullback rally.
The low channel line gets violated below 22000.
If that happens then expect a slide towards Wave (c) projection level of 19650.
Conclusion
As long as 25000 is not crossed rise and pullback towards it could be to exit long position.
Alternatively, consolidation can be witnessed if 22500 is not violated and move above 25000 strongly.
The current movement is flat between 23700 and 22500.
Bias is to move lower with volatility but attempt of reversal cannot be ruled out.