Report For Date: 17/10/2016
NCDEX Turmeric November Weekly: Higher Range Is To Exit Long
NCDEX Turmeric (Price are in INR (Rs)/Quintal)
Contrarian long position stop loss is at 6728.
Expect higher range of 7489-8043 to be tested.
Weaker opening and correction first to 7181-6935 can be used for buying with a stop loss of 6728.
Higher range can be used to take profits.
Pullback towards DRV is in progress on contrarian buy situation as the bounce has been witnessed from the demand zone of 7318-6750.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
7242.00
|
7701.73
|
DOWN
|
8592.0
|
22.01
|
6381
|
6935
|
7181
|
7489
|
8043
|
*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
|
7242.0
|
3.3
|
29505
|
35.8
|
10415
|
-2.1
|
Positive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
40.24
|
15.66
|
63.82
|
47.87
|
-353.18
|
4.56
|
49.13
|
53.04
|
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.