NCDEX Mustard June Weekly: Further Rise Continues Above 4138

Report For Week Dated: 18/05/2015

NCDEX Mustard June (Price are in INR (Rs)/Quintal)

Indicators are in overbought zone on the weekly chart.

Spinning Top candlestick pattern has been formed which suggest that near term rise can be put to a halt.

Further acceleration can happen above 4138 closing.

Alternatively, near term correction is likely if sustains below 4011.

The Spinning Top high and low create upside and downside trigger for next bar or candle.

Traders long and holding the same can revise up the stop loss to 4000.

Traders can trade long on breakout and close above 4138 with low of the week as the stop loss or 4011 whichever is lower.

Trend may remain up as DRV is 3707 but correction can happen if 4138 is not crossed strongly.

Correction within an up trend is likely if weekly closing is not above 4138.

WEEKLY TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Long	4052	3707	UP	3375.0	13.02	3869	3996	4067	4123	4250

*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
4052	0.97	661860	74.24	77770	-11.12	Indecisive	Unwinding

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	Stochastic	1-ROC- Stochastic	MACD	1-ROC MACD	RS	1-ROC RS
85.96	0.83	89.35	-3.49	180.80	11.56	64.06	-8.28

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.