NCDEX Guar gum Weekly
Current Relation to Oct 2016 contract : Hold Long Positions
Report for Date: 01/08/16
The trend is up in Guar gum futures on NCDEX.
Oct 2016 futures contract settled at Rs 6600 per quintal Friday.
A strong breakout and close above 6390 has seen in weekly chart.
There is a good chance of further rise as the momentum looks strongly favorable to bulls at this stage.
Ideally, hold long positions with a stop loss of 6080.
A 38.2% retracement of range 4980 – 7490 has seen.
Corrective dips to 6550 – 6500 can be used for buying .
Expect a rise to 7900 – 8600 in coming weeks.
INTRA-WEEk LEVELS FOR NCDEX GUAR SEED OCT 2016 CONTRACT
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
6600.0
|
6324.3
|
UP
|
6730.0
|
15.07
|
5427
|
6267
|
6773
|
7107
|
7947
|
*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: If trend is up then traders long can hold long position with closing stop loss of DRV: Close >DRV. If trend is down, then traders can hold short position with a closing stop loss of DRV: Close <DRV.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
|
Last Close
|
Price G/L%
|
Volume
|
% V Inc/Dec
|
Open Interest
|
% OI Inc/Dec
|
Candle
|
Position
|
|
6600.0
|
-10.2
|
167976
|
104.6
|
50181
|
-2.8
|
Negative
|
Unwinding
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
55.29
|
-14.56
|
80.00
|
-12.02
|
10.98
|
129.13
|
57.39
|
-22.16
|
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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