Technical: Dhaniya Kota - Pullback Being Witnessed

Dated 24/03/2017

DHANIYA KOTA- Last Close- 6390 : Pullback Being Witnessed

Monthly Chart

Trend line breakdown situation has been witnessed.

A pullback towards the trend line is being witnessed.

Reversal will be confirmed if sustains above 7174 on closing.

The bounce has comes from the retracement level of 6324 as the low registered on the recent fall was 6276.

Further weakness is below 6276 and momentary objective is to move higher.

Pullback can be to 7250-7824 and sustainability will be key.

Conclusion

Pullback is likely therefore cover short position overall. Strong pullback can emerge if sustain above 7250 on closing basis and can update further in the next review.