REPORT For Date: 07/11/2016
NCDEX Sugar December Weekly: Further Weakness Is Below 3361
NCDEX Sugar (Price are in INR (Rs)/Quintal)
Traders short and holding the same can maintain the stop loss at 3502.
Further correction and weakness is below 3361.
Traders short can cover the same at 3424 or below as the opportunity arises.
Sell is below 3361 with high of the week as the stop loss or 3441 whichever is higher.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
3441.0
|
3474.4
|
DOWN
|
3470.00
|
30.10
|
3299
|
3388
|
3424
|
3477
|
3566
|
*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
|
3441.0
|
-0.8
|
2110
|
-44.8
|
12070
|
-6.6
|
Indecisive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
47.07
|
-3.81
|
40.47
|
-16.74
|
21.29
|
-28.05
|
32.51
|
-17.62
|
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.