Report For Week Dated: 16/03/2015
NCDEX Mustard April (Price are in INR (Rs)/Quintal)
Traders short and holding the same can keep the stop loss at 3450.
Cover short position at 3404 or below as the opportunity arises.
Weakness will be seen below 3335.
Sell is below 3335 with high of the week as stop loss or 3450 whichever is higher.
A close above 3450 can trigger off the pullback towards the DRV.
Trend is down and will remain down as the prices remain below the DRV.
Bias might show up for pullback within the down trend if sustains above 3450.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold short
|
3404.00
|
3608.71
|
DOWN
|
3377
|
23.01
|
3281
|
3356
|
3383
|
3431
|
3506
|
*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 weekly closing stop loss of DRV: Close >DRV. If trend is down then traders can hold short position with a weekly 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
|
|
3404.00
|
0.65
|
171660
|
1.68
|
44580.00
|
-7.34
|
Indecisive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
38.90
|
3.37
|
71.23
|
111.31
|
-82.18
|
-8.71
|
36.75
|
-7.82
|
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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