NCDEX Chana August Weekly: Unwinding Of Positions

Report For Date 25/07/2016

NCDEX Chana August Weekly: Unwinding Of Positions

NCDEX Chana (Price are in INR (Rs)/Quintal)

Exit long position on rise form 8504 or above as the opportunity arises.

Wave v appears to be complete as a result of no contract post August.

Expect 8219-7399 to be tested on unwinding.

Resistance will be at 9039-9859.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Long	8504.0	7314.1	UP	3685.2	10.07	7399	8219	8755	9039	9859

*Trend will remain Down as long as last close is below the pink color DRV. Trend will be Up as long as Price is above DRV. Positional Traders can hold long position with DRV as the closing stop loss and close > DRV. Traders can hold short position with DRV as the closing stop loss and close < DRV.

PRICE, VOLUME AND OPEN INTEREST STRATEGY

LAST CLOSE	PRICE G/L%	VOLUME	% V INC/DEC	OPEN INTEREST	% OI INC/DEC	CANDLE	POSITION
8504.0	-3.5	850	73.5	1360	-7.5	Indecisive	Unwinding

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
85.70	-8.58	79.93	-9.03	982.97	4.94	79.25	-20.04

Disclaimer: There is risk of loss in trading in derivatives and the report is not to be construed as investment advice. The information provided in this report is intended solely for informative purposes. The author, directors and other employees of CC Commodity Info Services cannot be held responsible for the accuracy of the information presented herein or for the results of the positions taken based on the opinions expressed above.