NCDEX Guar Gum April: Deeper Correction Is Below 8700 Closing

Report For Date: 26/03/2018

NCDEX Guar Gum April: Deeper Correction Is Below 8700 Closing

NCDEX Guar Gum (Price are in INR )

Traders by chance long and holding the same can maintain the stop loss at 8700.

Resistance will be at 9030-9386 to be tested.

Deeper correction is below 8700 closing.

A rise and close above 9315 can lead to a rally.


TREND INFORMATION WITH INTRA-DAY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
-	8835.0	8886.0	DOWN	8835.0	23.03	8318.7	8674.7	8870.3	9030.7	9386.7

*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. 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 -G/L%	OPEN INTEREST	OI -G/L %	CANDLE	POSITION
8835.0	-0.8	41770	891.0	52060	8434.4	Indecisive	Addition long/Short

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
50.03	-1.87	10.76	-8.77	262.64	-15.70	48.76	24.16

Note: Red Color Bar= Down Trend, Green Color Bars= Up Trend, Blue Color Bars= Sideways(Trend could be up or down), Pink Color line= DRV, V marked= Increase in Volume in relation to last few days. 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. Blue Color dots above the price are profit booking alerts. Purple dot on the charts are swing top/bottoms could be in place.

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.