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Chana Moving sideways



From the below chart of Chana (Daily continuous contract), prices faced the overhead resistance of 6370 and reversed sharply, thus opening negative possibilities. Now the support is at 6000 level, break of this level will give a bearish break in a rectangle pattern, which can drag prices lower till 5900 followed by 5800.However, a bounce from the support will make price move in a rectangle pattern or in a sideways pattern. RSI is negatively poised and can move down below the level of 50.
 
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Shubhlaxmi Harish

Welcom To Shubhlaxmi Commodity

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