NCDEX Guar seeds10 Weekly
Current Relation to Oct 2016 contract : further Rally Above 3925
Report for Date: 08/08/16
The trend is up in Guar seed futures on NCDEX.
Oct 2016 futures contract settled at Rs 3823 per quintal Friday.
Ideally, hold long positions with a stop loss of 3475.
Corrective dips to 3380 – 3770 can be used for buying .
Key resistance and breakout is at 3925.
After one or two sideways wees, prices are expected to break the resistance and post a rally towards 4200 – 4600.
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
|
3823.0
|
3398.7
|
UP
|
3300
|
8.07
|
3402
|
3675
|
3800
|
3948
|
4221
|
*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
|
3823.0
|
4.08
|
909700
|
-4.62
|
101500.00
|
8.91
|
Positive
|
Addition Long
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
64.12
|
4.98
|
81.14
|
-1.49
|
126.68
|
25.17
|
65.81
|
7.69
|
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.