NCDEX Castor Seeds May Weekly: Cover Short Position

Report For Date 27/04/2015

NCDEX Castor Seeds May (Price are in INR(Rs)/Quintal)

A contrarian buy situation has emerged as open interest increased with the rise and positive candle which indicates addition of long position.

Since the trend is down,the situation is of contrarian buy as buy conditions are fulfilled in a down trend.

Support cluster is at 3592 to 3529.

Downside momentum will resume on fall and close below 3529.

Cover short position at 3811 or below as the opportunity arises.

Expect a rise towards 3944-4281.

A pullback rally can emerge of the fall from 5350 to 3529.

TREND INFORMATION WITH INTRA-DAY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Cover short	3811	3870	DOWN	4208	23.01	3270	3607	3740	3944	4281

*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 Inc/Dec	Open Interest	% OI Inc/Dec	Candle	Position
3811	6.2152	289460	448.2197	130440	4609.0254	Positive	Addition Long

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
42.84	24.05	61.68	9.59	-200.19	6.61	24.28	99.04

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.