REPORT For Date: 03/10/2016
NCDEX Sugar December Weekly: Unwinding Is More Dominant
NCDEX Sugar (Price are in INR (Rs)/Quintal)
The band of movement is 3425 to 3750.
Upper range of the week can be 3629-3696.
Lower range can be 3591-3562.
Directional movement is out of the band 3425-3750.
Higher range is to exit long position.
Lower range is to cover short position.
Unwinding of position is more dominant till breakout/breakdown on either side is not witnessed.
TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
3601.00
|
3583.90
|
UP
|
3587.0
|
9.09
|
3495
|
3562
|
3591
|
3629
|
3696
|
*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: If trend is up then traders long can hold long position with closing stop loss of DRV: Close >DRV. If trend is down then traders can hold short position with a closing stop loss of DRV: Close <DRV.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
|
LAST CLOSE
|
PRICE G/L%
|
VOLUME
|
V -G/L%
|
OPEN INTEREST
|
OI -G/L %
|
CANDLE
|
POSITION
|
|
3601.0
|
-0.1
|
2600
|
-48.5
|
14640
|
-0.5
|
Positive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
51.63
|
-0.24
|
63.69
|
7.45
|
41.97
|
-12.06
|
53.25
|
3.67
|
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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.
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