Report For Date: 12/11/2018
NCDEX Castor Seed: (Price are in INR (Rs)/Quintal)
Traders long and holding the same can maintain the stop loss at 5700.
The C2-Chart of Castor Seeds has the historical peak at 5882 formed in the year 2011.
The same level of 5882 has been crossed.
Higher range for the week can be 6091-6391.
A sustained rise and close above 6070 with bullish candle at the end of the week can prepare the price for rally towards 7600.
The current rise is sharp and tested the earlier historical peak therefore correction could be happen from current level or by testing 6091 levels.
Overall higher top and higher bottom formation can lead to a rally towards 7600 in time to come.
Traders can buy above 6070 with low of the week as the stop loss or 5700 whichever is lower.
TREND INFORMATION WITH INTRA-DAY LEVELS
CLOSE
|
WRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
5952.0
|
5081.5
|
UP
|
4246.0
|
29.06
|
5491
|
5791
|
5931
|
6091
|
6391
|
*Trend will remain Down as long as last close is below the pink color WRV(Weekly Reversal Value). Trend will be Up as long as Price is above WRV. Positional Traders: If trend is up then traders long can hold long position with closing stop loss of WRV: Close >WRV. If trend is down then traders can hold short position with a closing stop loss of WRV: Close <WRV.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
Last Close
|
Price G/L%
|
Volume
|
V -G/L%
|
Open Interest
|
OI -G/L %
|
Candle
|
Position
|
5952.0
|
3.3
|
187445.0
|
-33.8
|
149055.0
|
14.5
|
Positive
|
Addition Long
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
84.50
|
2.25
|
93.01
|
-1.64
|
317.96
|
18.28
|
80.81
|
0.30
|
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.