REPORT For Date: 24/04/2017
NCDEX Sugar May Weekly: Sideways Movement Being Witnessed
NCDEX Sugar (Price are in INR (Rs)/Quintal)
Sideways movement and oscillation around DRV is likely.
Bandwidth is falling and prices are around the DRV.
DRV is flat and horizontal as can be seen in the chart suggesting sideways movement.
Next directional movement can be witnessed outside the range of 3681-3871.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
3736.00
|
3730.96
|
UP
|
3778.0
|
31.03
|
3677
|
3721
|
3750
|
3765
|
3809
|
*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
|
3736.0
|
-0.4
|
130
|
-85.1
|
1430
|
0.7
|
Negative
|
Addition Short
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
52.88
|
-2.27
|
53.74
|
-16.95
|
47.69
|
-10.15
|
42.68
|
-5.54
|
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.