NCDEX Sugar March Weekly: Correction/Sideways Volatility To Emerge

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.