REPORT For Date: 08/05/2017
NCDEX Sugar May Weekly: Sideways Movement Being Witnessed
NCDEX Sugar (Price are in INR (Rs)/Quintal)
The band of movement is 3580 to 3871.
Support is at 3653-3580.
Expect higher range of 3687-3762.
Cover short position if any at 3653 or below.
Downside momentum can be seen below 3580.
Bandwidth is falling therefore downside movement could be limited as long as 3580 is not violated.
Resistance continues at higher range 3687-3762.
Reversal can resume if weekly close is above 3736.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
3653.0
|
3719.4
|
DOWN
|
3659.0
|
28.04
|
3537
|
3612
|
3646
|
3687
|
3762
|
*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
|
3653.0
|
-0.2
|
1110
|
-13.3
|
1280
|
-13.5
|
Positive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
46.90
|
-0.88
|
23.02
|
-40.36
|
27.98
|
-24.67
|
56.56
|
18.16
|
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.