NCDEX Sugar March Weekly:Further Rise Is Above 3890 Closing

REPORT For Date: 09/2017

NCDEX Sugar March Weekly:Further Rise Is Above 3890 Closing

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

Resistance is at 3881-3890.

Further rise can be witnessed on rise and close above 3890.

Traders long and holding the same can maintain the stop loss at 3750.

Correction can resume on fall and close below 3750.

Traders can buy above 3890 with low of the day stop loss or 3750 whichever is lower.

On sustained rise and close above 3890 with bullish candle at the end of the week, Sugar can scale up to 4250.

If the reversal from the rise has to be witnessed then it could be now as top of 3889 is being tested and failure to sustain at higher range can lead to a reversal to be confirmed by fall and close below 3750 on weekly basis.

Acceleration can be witnessed on breakout and close above 3890.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Long	3823.00	3513.05	UP	3629.0	23.12	3643	3762	3820	3881	4000

*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
3823.0	1.9	6580	83.8	6150	26.8	Positive	Addition Long

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
65.73	3.91	91.72	12.23	46.75	76.38	82.02	5.47

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.