NCDEX RSO Apr Short Term Bearish

NCDEX RSO(Apr) Short Term Bearish

We maintain out bearish view in NDEX RSO as prices are trading in channel with lower high and lower low formation, as shown above on weekly chart. Prices are now expected to trade lower towards support line and hence we continue our bearish view with target at Rs.566.

The 14 period RSI is also trading lower, indicating negative momentum for prices.

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