NCDEX Turmeric November Weekly: Higher Range Is To Exit Long

Report For Date: 24/10/2016

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

Contrarian long position stop loss is at 7024.

Further rise is above 7428.

Resistance will be at 7337-7647 and the same can be used to exit long position.

Support will be at 6874-6828.

Downside momentum is below 6828.

The band of movement can be 6828-7428.

Buy on breakout and close above 7428 with low of the week as the stop loss or 7184 whichever is lower.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Short	7184.00	7639.18	DOWN	8810.0	18.03	6717	7027	7181	7337	7647

*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
7184.0	0.1	15075	48.7	9395	1195.9	Indecisive	Unwinding

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
41.08	0.46	72.11	3.58	-355.56	4.17	47.27	-0.70

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.