REPORT For Date: 03/04/2017
NCDEX Sugar (Price are in INR (Rs)/Quintal)
Cover short position at 3778 or below.
Expect a rise towards 3833-3973.
Bandwidth is a falling therefore upside could get restricted to 3833 and to the resistance range of 3833-38973.
DRV is flat and horizontal as can be seen from the chart which suggests sideways volatility and oscillation around the DRV.
Sustainability at higher range could be an issue.
Weakness will get restored on fall and close below 3664.
TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
3778.00
|
3727.01
|
UP
|
3778.0
|
31.03
|
3553
|
3693
|
3749
|
3833
|
3973
|
*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
|
|
3778.0
|
1.8
|
1420
|
65.1
|
1720
|
-15.3
|
Positive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
55.97
|
7.27
|
44.63
|
62.62
|
61.86
|
-4.28
|
52.79
|
8.70
|
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.
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