NCDEX Guar seeds10 Weekly
Current Relation to Oct 2016 contract: Crucial Support Is At 3260
Report for Date: 05/09/16
The trend is down but nature of the movement is sideways in Guar seed futures on NCDEX.
Oct 2016 futures contract settled at Rs 3484 per quintal Friday.
The long positions advised by us had stopped out at 3475 and guar seed made low of 3355 before closing the week at 3484 per Quintal.
As long as the low of 3355 remains intact, an upward swing towards 3540 – 3680 can be seen.
Those accidently holding long positions can keep stop loss of 3355 and look to exit on rise to 3540 – 3680 levels or above as the opportunity arises.
Need to wait for any fresh positions for the time-being.
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
|
3484.0
|
3549.9
|
DOWN
|
3520
|
26.08
|
3253
|
3394
|
3445
|
3535
|
3676
|
*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
|
|
3484.0
|
3848.57
|
3253
|
3394.00
|
3445.00
|
3535.00
|
None
|
Unwinding
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
53.15
|
-1.95
|
25.44
|
-25.27
|
121.58
|
-9.03
|
51.53
|
-6.27
|
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.
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