Report For Date: 21/08/2017
NCDEX Turmeric September Weekly: Further Rise Is Above 7920 Closing
NCDEX Turmeric (Price are in INR (Rs)/Quintal)
Technical Rating: 63.6 –Stronger Up Trend
Indicators are rising except for Stochastic.
Resistance is at 7604-7920.
Further rise is above 7920 closing.
Traders long and holding the same can maintain the stop loss at 6800.
Accumulate at 7276 or below with a stop loss of 6800.
Add further long position above 7920 with low of the week as the stop loss or 6800 whichever is lower.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
7472.00
|
6898.24
|
UP
|
6228.0
|
23.06
|
6948
|
7276
|
7408
|
7604
|
7932
|
*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 can hold long position with DRV as the closing stop loss and close >DRV. Traders can hold short position with DRV as the closing stop loss and close <DRV.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
LAST CLOSE
|
PRICE G/L%
|
VOLUME
|
% V INC/DEC
|
OPEN INTEREST
|
% OI INC/DEC
|
CANDLE
|
POSITION
|
7472.0
|
1.0
|
15500
|
-54.5
|
14100
|
-3.3
|
Positive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
62.26
|
1.43
|
69.71
|
-4.78
|
226.60
|
15.46
|
63.58
|
0.55
|
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.