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

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.