NCDEX Turmeric April Weekly: Contrarian Buy Situation Emerged
NCDEX Turmeric (Price are in INR (Rs)/Quintal)
Cover short position at 6944 or below as the opportunity arises. Contrary buy situation has emerged a result of addition of long position. Open interest increased with the rise and positive candle at the end of the week. The bullish candle emerged at the support and demand zone of 6660-6482.
Weaker opening and correction to 6810-6671 can be used for buying with a stop loss of 6400. Expect higher range of 7083-7495.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
CLOSE
DRV
TREND*
Trend
Price
Trend
Date
L1
L2
CP
L3
L4
Hold Short
6944.0
7360.5
DOWN
8810.0
18.03
6259.3
6671.3
6810.7
7083.3
7495.3
*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 can hold long position with DRV as the closing stop loss and close >DRV. Traders can hold short position with DRV as the closing stop loss and close <DRV.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
LAST CLOSE
PRICE G/L%
VOLUME
% V INC/DEC
OPEN INTEREST
% OI INC/DEC
CANDLE
POSITION
6944.0
4.9
12050
109.4
13280
4.0
Positive
Addition Long
TECHNICAL INDICATORS TABLE
RSI
1-ROC-RSI
STOCHASTIC
1-ROC
STOCHASTIC
MACD
1-ROC
MACD
RS
1-ROC
RS
42.85
20.69
21.53
336.11
-253.47
4.20
47.68
49.73
Report For Date:23/1/2017
NCDEX Turmeric April Weekly: Contrarian Buy Situation Emerged
NCDEX Turmeric (Price are in INR (Rs)/Quintal)
Cover short position at 6944 or below as the opportunity arises. Contrary buy situation has emerged a result of addition of long position. Open interest increased with the rise and positive candle at the end of the week. The bullish candle emerged at the support and demand zone of 6660-6482.
Weaker opening and correction to 6810-6671 can be used for buying with a stop loss of 6400. Expect higher range of 7083-7495.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
CLOSE
DRV
TREND*
Trend
Price
Trend
Date
L1
L2
CP
L3
L4
Hold Short
6944.0
7360.5
Rate this story
Rated
0.0
Comment :
Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.