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NCDEX Guar Gum June 2019: Sideways Movement Around Wrv Is Likely

18 May 2019 7:21 pm
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Report For Date: 18/05/2019


NCDEX Guar Gum (Price are in INR)


Resistance will be at 8834-8927-9041.

Lower range can be 8719-8397.

Expect sideways movement around WRV-8935.

Exit long and sell on rise to 8927-9041 with a stop loss of 9134.

Upside momentum can resume if close is above 9134.


TREND INFORMATION WITH INTRA-DAY LEVELS

CLOSE

WRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

8834.00

8935.35

DOWN

8834.0

17.05

8397

8719

8927

9041

9363


*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. 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

8834.0

-1.5

52005.0

-22.4

58750.0

-1.9

Negative

Unwinding



TECHNICAL INDICATORS TABLE

RSI

1-ROC-RSI

STOCHASTIC

1-ROC

STOCHASTIC

MACD

1-ROC

MACD

RS

1-ROC

RS

48.81

-5.38

37.70

23.50

-19.08

-8.03

29.47

-18.86




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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