Report For Week Dated: 20/04/2015
NCDEX Mustard May (Price are in INR (Rs)/Quintal)
Addition of long position has been witnessed as open interest increased with the rise and positive candle.
Weaker opening and correction first to 3674-3616 can be used for buying with a stop loss of 3466.
Expect higher range of 3767-3918 to be tested.
The historical adjust peak is at 3782.
Higher range around 3782 can attract profit booking pressure unless a breakout and weekly close above 3782 is witnessed.
In the event of breakout and weekly close above 3782, Mustard Seeds can rally towards 4563.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
3708.00
|
3450.43
|
UP
|
3375
|
13.02
|
3465
|
3616
|
3674
|
3767
|
3918
|
*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
|
|
3708.00
|
3.37
|
321890
|
5.49
|
50340.00
|
8.17
|
Positive
|
Addition Long
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
66.64
|
11.22
|
82.05
|
8.51
|
19.09
|
2293.67
|
48.45
|
19.58
|
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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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