Report For Date 21/08/2017
NCDEX Mustard September Weekly: Accumulate On Decline
NCDEX Mustard: (Price are in INR (Rs)/Quintal)
Technical Rating: 44.60- Mild Up Trend
A rise above 3763 was witnessed last week and buy was triggered.
The high registered last week was 3811.
Expect a rise towards 61.8% retracement of the fall from 4153 to 3508.
The 61.8% retracement is at 3910.
Accumulate at 3768-3725 with a stop loss of 3658.
Traders already long and holding the same can maintain the stop loss at 3658.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
3787.0
|
3745.7
|
UP
|
3787.0
|
18.08
|
3621.7
|
3725.7
|
3768.3
|
3829.7
|
3933.7
|
*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
|
3787.0
|
1.4
|
136160
|
9.6
|
56030
|
-2.4
|
Positive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
48.56
|
9.40
|
72.46
|
-2.79
|
-80.46
|
14.25
|
44.57
|
16.07
|
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.