Urad Technicals

Urad has resumed its uptrend from an oversold level and exact 50% fibonacci retracement level of 2450 , a channel break has also occured which will push urad upto 2950 over the next week . Over the next moth Urad is all set to touch 3300 which is an important fibonacci resistance level .

Fundamentally too Urad crop will be worse than expected due to heavy rains in south.

Happy Trading . :)
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