Report For Date 27/04/2015
NCDEX Castor Seeds May: Minor Correction To Be Witnessed
NCDEX Castor Seeds May (Price are in INR(Rs)/Quintal)
An inverted hammer has been after the breakout.
A spike appears to be in place with resistance at 3870 crossed but failed to close above it.
The high registered on Friday was 3873 and closed at 3811.
Resistance is likely to be seen at higher range unless a breakout and close above 3873 is witnessed with bullish candle.
Resistance will be at 3826-3873.
Expect lower range of 3779-3700 to be tested before moving higher.
Correction to 3700 can be used for buying with a stop loss of 3646.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
3811
|
3757
|
UP
|
3784
|
23.04
|
3700
|
3779
|
3826
|
3858
|
3937
|
*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
|
|
3811
|
0.7135
|
104820
|
14.972
|
130440
|
-1.6438
|
Indecisive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
61.32
|
-4.22
|
72.52
|
20.12
|
30.42
|
0.20
|
37.89
|
-12.23
|
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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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