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NCDEX Wheat August: Higher Range Is To Exit Long

10 Aug 2018 11:09 am
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Report For Date: 10/08/2018


NCDEX Wheat (Price are in INR (Rs)/Quintal)


Hold long position with a stop loss of 1960.

Expect higher range of 1992-1996 or above.

Higher range can be used to exit long position.

Support will be at 1990-1988.

Further breakout and close above 2004 is essential to extend the rise.



TREND INFORMATION WITH INTRA-DAY LEVELS

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

1990.00

1959.48

UP

1819.0

15.06

1984.0

1988.0

1990.0

1992.0

1996.0


*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 -G/L%

OPEN INTEREST

OI -G/L %

CANDLE

POSITION

1990.0

0.0

530

-36.1

3520

1.1

Positive

Unwinding






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.


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