Technical: Mustard Seed Jaipur - Swing Bottom Likely

Dated 01/08/2017

MUSTARD SEED JAIPUR- Last Close-1/08/2017- :3870 - Swing bottom likely

Monthly Chart

Swing bottom is likely at last low of 3665.


Expect near term rise to 4000 from current level of 3810.


Further weakness is below 3640 and till then cover short position as rise towards 4000 and 4151 is likely.

Support is at 3755-3685.

Conclusion

Reversal attempt being witnessed as swing bottom is likely.

Accumulate on correction to 3755-3685 with a stop loss of 3640.

Further weakness is below 3640.