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NCDEX Turmeric November: Resistance At Higher Range

6 Nov 2018 11:21 am
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Report For Date 06/11/2018




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


Exit long and sell on rise from 6564 or above with a stop loss of 6750.

Resistance will be at 6591-6652.

Expect lower range of 6502-6352 to be tested.



TREND INFORMATION WITH INTRA-DAY LEVELS

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

6564.00

6715.80

DOWN

6614.00

2.11

6352.7

6502.7

6591.3

6652.7

6802.7


*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 can hold long position with DRV as the closing stop loss and close >DRV. Traders can hold short position with DRV as the closing stop loss and close <DRV.

PRICE, VOLUME AND OPEN INTEREST STRATEGY

LAST CLOSE

PRICE G/L%

VOLUME

% V INC/DEC

OPEN INTEREST

% OI INC/DEC

CANDLE

POSITION

6654.0

0.1

4475

70.8

9245

19.6

Indecisive

Addition Long/Short


TECHNICAL INDICATORS TABLE

RSI

1-ROC-RSI

STOCHASTIC

1-ROC

STOCHASTIC

MACD

1-ROC

MACD

RS

1-ROC

RS

40.46

-6.99

16.99

-56.62

-14.82

-130.82

17.44

-11.23





Note: UP Green= Shows Up Trend as Close > DRV (Pink Line), DN Red= Shows Down Trend as Close < DRV(Pink Line), Red Color Bar= Down Trend + Bandwidth Is Rising, Green Color Bars= Up Trend + Bandwidth Is Rising, Blue Color Bars= Sideways(Trend could be up or down + Bandwidth is falling), 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. Bandwidth Indicator= Helps to determine directional speed in the direction of the trend. Falling Bandwidth would indicates loss of momentum being witnessed or likely to be witnessed. Sideways movement may emerge or upside or downside could be locked until Bandwidth does not turn up. Rising Bandwidth can bring about directional momentum.

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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