26 Sep 2013 NCDEX CHANA October : Further weakness can be seen - TopicsExpress

26 Sep 2013 NCDEX CHANA October : Further weakness can be seen below 3020 CHANA OCTOBER Traders short need to revise down the stop loss to 3102. Trend is still down and in correction phase of the last rally from 2687 to 3305. Retracement levels are placed at 3069, 2997 and 2925. Cover short position at 3054 or below as the opportunity arises. Sell on fall below 3020 with high of the day stop loss or 3068 whichever is higher. If Chana trades above the open registered of the day and above 3102 then expect near term reversal for a pullback towards 3141 or above. Strategy Cover short position Last Close (Rs) 3068 DRV 3101 TREND DOWN L1 - 2982 L2 - 3035 CP - 3054 L3 - 3088 L4 - 3141

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