Report For Week Dated: 15/06/2015
NCDEX Mustard (Price are in INR (Rs)/Quintal)
The indicator like RSI is in overbought zone.
Stochastic exit the overbought zone.
MACD has moved up and is above its trigger line.
Indicators suggest that positive movement is still held by Mustard.
Stochastic exit suggest that higher range can attract resistance and failure to sustain above 4096 can lead to correction to DRV.
Traders long can keep the stop loss at 4096.
Resistance will be at 4293-4392.
Further breakout and close above 4400 can lead to extension of the movement and higher top/higher bottom sequence will continue.
Violation of 4096 can lead to breaking of the sequence of higher top and higher bottom formation on the daily chart. However, weekly chart would should correction to DRV.
The retracement levels of the rise from 3288 (February 2015) to 4392 (June 2015) are placed at 3974, 3839 and 3712.
The earlier breakout point was at 3782 (Adjusted Peak of 2012). Correction can be seen on fall and close below 4096 to test 3974 at least but must not fall and close below 3782.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
4230.0
|
3992.1
|
UP
|
3375.0
|
13.02
|
3969
|
4131
|
4195
|
4293
|
4455
|
*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
|
|
4230.0
|
-0.3
|
581700.0
|
43.6
|
89100
|
16.0
|
Indecisive
|
Addition long/Short
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
81.53
|
-1.45
|
73.87
|
-15.41
|
250.28
|
1.75
|
80.04
|
1.13
|
Weekly Chart
.jpg)
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.
0 Comments 
Post Comment 
