Technical: Cotton Bales Rajkot-Near Term Correction In Progress

Dated : 15/10/2018

Cotton Bales Rajkot- Last Close-22220- Near Term Correction In Progress

Retracement of the rise from 18170 to 23440 is likely to be witnessed.

Retracement levels are placed at 22180-21440-20790.

Averages are at 22014 and 21479 which can be tested on correction.


Further breakout and close above 23210 in time to come can set a rally to 26715.

Conclusion

Correction towards retracement levels of 22180-21440-20790 can be for accumulation