The trend is up in Guar seed futures on National Commodity & Derivatives Exchange (NCDEX).
April 2015 futures contract settled at Rs 3,738 per quintal Friday.
It looks like that a crucial bottom is in place and prices may start to go up from here on.
Buy at market price and on dips to Rs 3,720-3700 with a stop loss of Rs 3,560.
As long as the low of Rs 3,563 do not get violated, a major reversal is expected in coming sessions.
Crucial resistance and breakout is at Rs. 3,900.
INTRA-DAY LEVELS FOR NCDEX GUAR SEED APRIL 2015 CONTRACT
STRATEGY
CLOSE
DRV
TREND*
Trend Price
Trend Date
L1
L2
CP
L3
L4
Hold Long
3738
3691
UP
3761
24.03
3679
3721
3747
3763
3805
*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 Inc/Dec
Open Interest
% OI Inc/Dec
Candle
Position
3738
-0.80
17030
-48.14
31440.00
-2.39
Negative
Unwinding
TECHINCAL INDICATORS TABLE
RSI
1-ROC-RSI
Stochastic
1-ROC-Stochastic
MACD
1-ROCMACD
RS
1-ROCRS
44.47
-3.48
59.50
-14.39
-35.29
8.77
43.31
-13.07
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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