Report For Date 20/08/2018
NCDEX Mustard: (Price are in INR (Rs)/Quintal)
Traders by chance long and holding the same can maintain the stop loss at 4100.
Expect higher range of 4218-4302 to be tested.
Support will be at 4164-4134.
The lower tops are at 4283 and 4300, the same will offer resistance and profit booking pressure.
Stochastic has formed negative divergence therefore tops of 4283 and 4300 can offer resistance.
A rise towards the lower top for resistance is likely.
Correction will continue and can be faster if fall and close below 4100 is witnessed.
TREND INFORMATION WITH WEEKLY LEVELS
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
4188.0
|
4062.3
|
UP
|
3975.0
|
18.05
|
4050
|
4134.3
|
4164.7
|
4218.3
|
4302.3
|
*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 can hold long position with DRV as the closing stop loss and close > DRV. Traders can hold short position with DRV as the closing stop loss and close < DRV.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
LAST CLOSE
|
PRICE
G/L%
|
VOLUME
|
% V INC
/DEC
|
OPEN
INTEREST
|
% OI INC
/DEC
|
CANDLE
|
POSITION
|
4188.0
|
1.1
|
133070.0
|
-20.8
|
111290.0
|
-12.0
|
Positive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
58.38
|
4.81
|
47.12
|
-22.43
|
41.44
|
9.12
|
34.91
|
38.06
|
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.