Report For Date 25/07/2016
NCDEX Mustard August Weekly: Expect Higher Range To Be Tested
NCDEX Mustard: (Price are in INR (Rs)/Quintal)
Traders long can maintain the stop loss at 4700.
Resistance comes from the peak of 5156.
Higher range for the week can be 5013-5118.
In the event of a breakout and close above 5156 expect a rally towards 5637-6012 for Wave iii.
Correction to 4908-4803 can be used for accumulation with a stop loss of 4700.
Traders can buy above 5023 with low of the week as the stop loss or 4918 whichever is lower.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
4956.0
|
4554.0
|
UP
|
4431.00
|
8.04
|
4803
|
4908
|
4966
|
5013
|
5118
|
*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
|
4956.0
|
0.6
|
188320
|
691.6
|
98620
|
6431.1
|
Indecisive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
67.46
|
0.96
|
82.42
|
-3.42
|
154.80
|
11.95
|
46.55
|
-2.37
|
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.