NCDEX Sugar December Weekly: Unwinding Is More Dominant

REPORT For Date: 17/10/2016

NCDEX Sugar December Weekly: Unwinding Is More Dominant

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

Exit long and sell on rise from 3556-3644 with a stop loss of 3666.

Resistance will be at 3577-3644.

Expect lower range 3489-3334 to be tested.

Lower range can attract support.

Downside momentum is below 3425.

The wider band of movement can be 3666-3425.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Short	3556.00	3644.49	DOWN	3603.0	23.09	3334	3489	3577	3644	3799

*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
3556.0	-2.0	4610	141.4	14530	-2.3	Negative	Unwinding

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
45.12	-8.80	43.21	-19.64	-14.17	-53.93	49.34	-7.00

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.