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NCDEX Guar Gum May: Next Directional Movement Outside-9164-8714

14 Apr 2018 1:19 pm
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Report For Date: 16/04/2018

NCDEX Guar Gum May: Next Directional Movement Outside-9164-8714

NCDEX Guar Gum (Price are in INR )

Indecisive bodies have been witnessed for 3 week now and a movement outside the range
of 9164-8700 can decide the next directional movement.

Traders short and holding the same can maintain the stop loss at 9164.

Weakness and correction will continue below 8714.

Bollinger Lower Band is at 8300.

Bollinger Upper Band is at 9666.


TREND INFORMATION WITH INTRA-DAY LEVELS

STRATEGY

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

-

8937.0

8983.9

DOWN

8949.0

23.03

8368

8739

8912

9110

9481


*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

8937.0

0.5

89045

68.5

58400

21.2

Indecisive

Unwinding



TECHNICAL INDICATORS TABLE

RSI

1-ROC-RSI

STOCHASTIC

1-ROC

STOCHASTIC

MACD

1-ROC

MACD

RS

1-ROC

RS

49.66

1.56

27.49

34.86

148.34

-16.96

44.10

14.94






Note: Red Color Bar= Down Trend, Green Color Bars= Up Trend, Blue Color Bars= Sideways(Trend could be up or down), Pink Color line= DRV, V marked= Increase in Volume in relation to last few days. 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. Blue Color dots above the price are profit booking alerts. Purple dot on the charts are swing top/bottoms could be in place.

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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