REPORT For Date: 22/05/2017
NCDEX Sugar July Weekly: Exit Long On The Rise
NCDEX Sugar (Price are in INR (Rs)/Quintal)
Trend has turned up as July contract becomes active.
Traders long and holding the same can revise up the stop loss to 3744.
A trend line breakout was seen but close lower below the trend line which suggest resistance is at higher range.
Resistance will be at 3812-3880-3950.
Traders long and holding the same can use rise to resistance to exit long.
TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
3784.00
|
3726.52
|
UP
|
3795.00
|
12.05
|
3552
|
3716
|
3812
|
3880
|
4044
|
*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
|
|
3784.0
|
-0.3
|
700
|
-48.5
|
270
|
-6.9
|
Indecisive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
55.74
|
-1.50
|
54.94
|
37.26
|
32.40
|
4.14
|
74.97
|
1.30
|
.png)
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.
0 Comments 
Post Comment 
