Technical: Masoor Kanpur - Further Weakness Is Below 4700

Dated 23/1/2017

MASUR KANPUR – Last close 21 Jan 2017- 4,800/- Per Quintal - Further weakness is below 4800

Support can be fetched at 4850-4700.


If the recovery has to happen then it could be now from the support zone.

Indicators are in oversold zone and a price rise now can create oversold zone exit situation which can trigger the pullback.

Down trend and weakness will continue below 4700.

Conclusion

Expect 4700 to be tested.

Down Trend is in progress and further downside momentum is below 4700.