Report For Date: 19/03/2018
NCDEX Turmeric April Weekly: Cover Short Position
NCDEX Turmeric (Price are in INR (Rs)/Quintal
Traders short and holding the same can maintain the stop loss at 6950.
Cover short position at 6924 or below as the opportunity arises.
If sustains above 6964 and above the open of the week then expect rise towards 7037-7335.
A swing bottom appears to be in place as a result of the higher low and higher high post Piercing Line candlestick pattern last week.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
-
|
6924.00
|
7054.45
|
DOWN
|
6898.00
|
23.02
|
6441
|
6739
|
6851
|
7037
|
7335
|
*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
|
6924.0
|
1.2
|
15850
|
-22.8
|
8380
|
-14.8
|
Indecisive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
45.58
|
3.78
|
31.91
|
71.89
|
-64.79
|
-20.24
|
41.98
|
13.03
|
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.