REPORT For Date: 06/03/2017
NCDEX Sugar (Price are in INR (Rs)/Quintal)
Resistance will be at 3813-3850-3920-3950.
Further rally can be seen on rise and close above 3950.
Expect correction of the last rise from 3329 to 3950.
Retracement levels are placed at 3719-3648-3561.
Traders may choose to exit long and take profits till 3950 is not crossed.
Correction and sideways volatility towards the retracement levels of 3719-3648-3561 can be witnessed till 3950 is not crossed or reversal indication from correction is not witnessed.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
3816.00
|
3731.45
|
UP
|
3629.0
|
23.12
|
3710
|
3780
|
3814
|
3850
|
3920
|
*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
|
3816.0
|
-0.1
|
3220
|
-30.2
|
5120
|
-16.5
|
Indecisive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
59.10
|
-0.24
|
46.32
|
-26.23
|
101.09
|
-4.86
|
57.48
|
-14.11
|
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.