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NCDEX Castor Seed April: Lower Range Is To Cover Short Position

14 Apr 2018 1:13 pm
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Report For Date: 16/04/2018

NCDEX Castor Seed April: Lower Range Is To Cover Short Position

NCDEX Castor Seed: (Price are in INR (Rs)/Quintal)

Traders short and holding the same can maintain the stop loss at 4245.

Resistance will be at 4138-4245.

Expect lower range of 4083-3965 to be tested.

Last bottom was at 3976 and the same could be tested with volatility.

Sideways movement are being witnessed as Bollinger Bands are contracting.

Prices are below the Bollinger Lower Band.

Higher level to attract resistance and will need a strong and wild up move to change the tide of the current downward sideways movement.


TREND INFORMATION WITH INTRA-DAY LEVELS

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

Hold Short

4147.00

4353.46

DOWN

4477.00

15.12

3965.7

4083.7

4138.3

4201.7



*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.

PRICE, VOLUME AND OPEN INTEREST STRATEGY

Last Close

Price G/L%

Volume

V -G/L%

Open Interest

OI -G/L %

Candle

Position

4147.0

-0.1

133640

46.7

77480

21.8

Indecisive

Addition long/Short




TECHINCAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

41.88

-0.39

46.04

25.61

-82.40

0.40

42.90

13.27







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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