Technical: Turmeric Nizamabad- Trend Line Breakout Could Be Attempted

Dated 19/08/2017

TURMERIC Nizamabad- Last Close- 18/08/2017- 7200 - Trend line breakout could be attempted

Monthly Chart

Expect a rise to test the trend line resistance and 61.8% retracement of the fall from 9824 to 5790.


The 61.8% retracement is at 8215 and the last close is at 7556.


Expect 8215 to be tested in near term.


Consolidation around DRV-6749 can happen.


A breakout and close above 8215 with bullish candle can set a rally to 9527 or above.


For the time being expect resistance at 8215.

Conclusion

Near term rise likely to test the 61.8% and trend line.

Consolidation around DRV-6749.