Indo Agri has tested the 1 and a half year low of 1.14 set in Oct 2011 and have broken below it. This was the support that it has rebounded in June last year also. Might see it drifting lower on the break down. Next psychological support at 1.10. If 1.10 fails to hold, possible to head lower to test 1.00 quickly. We are bearish as long as 1.15 remains as resistance.
Buy stop at 1.16 level.
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