Login ID:
Partner Login
Contact Us : 7066511911

NCDEX Guar gum Weekly : A Cup And Handle Breakout Seen

1 Oct 2016 2:39 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

NCDEX Guar gum Weekly

Current Relation to Oct 2016 contract : A Cup And Handle Breakout Seen

Report for Date: 03/10/2016

The trend is up in Guar gum futures on NCDEX.

Oct 2016 futures contract settled at Rs 6630 per quintal Friday.

A breakout has been seen in a Bullish cup and handle pattern and the prices are likely to rise further in the projected path marked with yellow dotted lines in the below attached chart.

Corrective dips to 6600 – 6500 can be used for taking fresh long positions.

Use stop loss of 6060 for any long positions.

Expect a rise to 8400 – 9300 levels which is 100% and 138.2% projection respectively.


STRATEGY CLOSE DRV TREND* Trend Price Trend Date L1 L2 CP L3 L4
Hold Long 6630.0 6417.0 UP 6520.0 9.09 5870 6410 6730 6950 7490

*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 Inc/Dec Open Interest % OI Inc/Dec Candle Position
6630.0 -4.5 116120 -12.6 17881 -49.4 Negative Unwinding


RSI 1-ROC-RSI Stochastic 1-ROC- Stochastic MACD 1-ROC MACD RS 1-ROC RS
53.33 -7.32 63.90 -12.27 170.86 -2.84 57.40 -18.29

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.

  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  

Top | Post Comment  

Top 5 Special Reports
Weekly Review: Low Level Buying May Support Coriander P...
Weekly Review: Improvement Likely In Jeera Prices
Weekly Review: Low Arrival May Keep Red Chilli Prices B...
Weekly: Tur/Chana Down In Pulses Complex This Week
Weekly Review: Recovery Likely In Turmeric On Low Level...
Copyright © CC Commodity Info Services LLP. All rights reserved.