Report for Date: 31/03/15The trend has turned down in Wheat futures on National Commodity and Derivatives Exchange (NCDEX).
Wheat April 2015 futures contract settled sharply lower at 1,439 per quintal Monday.
Support of Rs 1,480 has broken.
Hold Short positions with a stop loss of Rs 1,450.
Expect lower levels of Rs 1,420-1,400 to be tested in volatility.TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
CLOSE
DRV
TREND*
Trend Price
Trend Date
L1
L2
CP
L3
L4
Hold Short
1439
1458
DOWN
1450
23.03
1415
1430
1435
1445
1460
*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
1439
0.98
1120
38.27
2820.00
-12.69
Positive
Unwinding
TECHINCAL INDICATORS TABLE
RSI
1-ROC-RSI
Stochastic
1-ROC-Stochastic
MACD
1-ROCMACD
RS
1-ROCRS
36.04
24.70
33.99
64.07
-17.53
1.46
22.49
-3.41
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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