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NCDEX Mustard March 2019: Rise Is Above 4000 Closing

9 Feb 2019 3:58 pm
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Report For Date 11/02/2019



NCDEX Mustard: (Price are in INR (Rs)/Quintal)


Traders short and holding the same can maintain the stop loss at 3998.

Resistance is at 3978-3998.

Lower range can be 3897-3816.

Accumulate at 3866-3825 with a stop loss of 3764 based on contrarian view of support cluster at lower range and structural formation.

Buy if breakout above 4000 is witnessed with low of the week as the stop loss or 3928 whichever is lower.


TREND INFORMATION WITH WEEKLY LEVELS

CLOSE

WRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

3928.00

3975.87

DOWN

4019.0

30.11

3816

3897

3948

3978

4059


*Trend will remain Down as long as last close is below the pink color WRV. Trend will be Up as long as Price is above WRV (Weekly Reversal Value). Positional Traders: If trend is up then traders long can hold long position with closing stop loss of WRV: Close >WRV=Up Trend. If trend is down then traders can hold short position with a closing stop loss of WRV: Close <WRV=Down Trend.


PRICE, VOLUME AND OPEN INTEREST STRATEGY

LAST CLOSE

PRICE

G/L%

VOLUME

% V INC

/DEC

OPEN

INTEREST

% OI INC

/DEC

CANDLE

POSITION

3928.0

-0.6

53070.0

78.0

19280.0

7.6

Negative

Addition Short


TECHNICAL INDICATORS TABLE

RSI

1-ROC-RSI

STOCHASTIC

1-ROC-

STOCHASTIC

MACD

1-ROC

MACD

RS

1-ROC

RS

41.28

-3.72

75.86

26.18

-52.88

0.07

44.76

10.02

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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