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NCDEX Sugar July Weekly: Sideways Movement

8 Jul 2017 1:32 pm
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REPORT For Date: 10/07/2017

NCDEX Sugar (Price are in INR (Rs)/Quintal)


Trend is down and sideways without volume.

Activity is list less to derive any directional movement on account of lack of participation of traders.

Higher range can be 3727-3815.

Lower range can be 3639-3551.

A close below 3580 can result into sharp slide.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

Hold Short

3687.00

3721.7

DOWN

3721.0

1.06

3551

3639

3678

3727

3815


*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

3687.0

0.5

140

250.0

140

-33.3

Positive

Unwinding




TECHNICAL INDICATORS TABLE

RSI

1-ROC-RSI

STOCHASTIC

1-ROC

STOCHASTIC

MACD

1-ROC

MACD

RS

1-ROC

RS

48.62

3.33

47.17

68.10

3.98

-37.08

44.83

-14.82






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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