Technical: Barley jaipur- Correction Is For Accumulation

Dated 27/04/2017

Barely Jaipur- Last Close-1563: Correction is for accumulation

Monthly Chart

Correction of the last rally from 1130 to 1825 is being witnessed.

Retracement levels are 1564, 1479 and 1403.

The low registered till now is 1540.

Further weakness will continue below 1540 for next retracement levels of 1479-1403.


Expect retracement to be tested before moving higher.

Conclusion

Expect correction to retracement levels first before moving higher.

Long term players can accumulate at retracement of 1479 and 1403 as the opportunity arises.