Report For Date: 18/03/2019
NCDEX Guar Gum (Price are in INR)
Traders by chance long on contrarian view mentioned last week can hold the position with a stop loss of 8180.
Resistance is at 8832-8992.
Traders long can take profits at resistance of 8832-8992 as the opportunity arises.
The trend still down as closing is below WRV.
Breakout and close above 8992 can set a near term rally.
Traders can use rise from 8736-8832 to exit long and sell with a stop loss of 8992.
Lower range for the week can be 8613-8394.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
CLOSE
|
WRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
8709.00
|
8899.67
|
DOWN
|
9270.0
|
22.11
|
8394.0
|
8613.0
|
8736.0
|
8832.0
|
9051.0
|
*Trend will remain Down as long as last close is below the pink color WRV. Trend will be Up as long as Price is above WRV. Positional Traders: If trend is up then traders long can hold long position with closing stop loss of WRV: Close >WRV. If trend is down then traders can hold short position with a closing stop loss of WRV: Close <WRV.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
|
LAST CLOSE
|
PRICE G/L%
|
VOLUME
|
V -G/L%
|
OPEN INTEREST
|
OI -G/L %
|
CANDLE
|
POSITION
|
|
8709.0
|
-0.4
|
65900.0
|
6.0
|
61245.0
|
-2.7
|
Indecisive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
53.70
|
-8.39
|
13.72
|
-36.21
|
82.98
|
-10.40
|
46.55
|
-16.44
|
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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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