NCDEX Guar seeds10 Nov: A Bullish Cup and Handle Pattern Is Likely Emerging 9 Oct 2015 11:10 am   0 Comments  |   Post Comment  |  Font Size A A A  NCDEX Guar seeds10 Nov: A Bullish Cup and Handle Pattern Is Likely Emerging Report for Date: 09/10/15 The trend is up in Guar seeds futures on National Commodity & Derivatives Exchange (NCDEX). Nov 2015 futures contract settled at 4109 per quintal Thursday. It looks like that a bullish Cup and Handle pattern is under development in daily chart of Guar seed futures. (Shown in the chart._ We assumed that cup like structure has completed from 15 Sep 2015 to 07 Oct 2015 price range and the later part of the pattern which is called “Handle” is in progress now. The suspected “handle” is likely to be unfold in a falling wedge and then after an upside breakout may start a rally in guar seed prices in coming sessions. During the formation of the handle, a corrective decline towards 4005-3960 is likely to be seen and the same can be used to go long. Keep a stop loss of 3850 for the long positions. If the pattern unfold as per the expectations, It may have an upside potential towards 4500-4700 levels. INTRA-DAY LEVELS FOR NCDEX GUAR SEED NOV 2015 CONTRACT STRATEGY CLOSE DRV TREND* Trend Price Trend Date L1 L2 CP L3 L4 Hold Long 4109.0 3938.6 UP 3924.0 5.10 3894 4036 4104 4178 4320 *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 4109.0 0.6 164700 -19.3 59670 -4.0 Indecisive Unwinding TECHINCAL INDICATORS TABLE RSI 1-ROC-RSI Stochastic 1-ROC- Stochastic MACD 1-ROC MACD RS 1-ROC RS 59.84 1.44 82.93 -3.47 20.44 453.33 58.10 -0.67 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. View Full Image Read Disclaimer   Rate this story Rated 0.0    Post comment Comment : Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy. Name :   Email :       Post Comment		Latest TechAnalysis Report Guar Gum (May 24) Bullish Trend / Buy on Dips / Key Su... Mentha Oil (Apr 24) Bearish Trend / Sell on Rise / Key... Guar Seed (May 24) Bullish Trend / Buy on Dips / Key S... Mentha Oil (Apr 24) Bearish Trend / Sell on Rise / Key... Guar Seed (May 24) Bullish Trend / Buy on Dips / Key S... more Top 5 News Guar Gum (May 24) Bullish Trend / Buy on Dips / Key Su... Cotton Candy (May 24) Bearish Trend / Sell on Rise / K... Mentha Oil (Apr 24) Bearish Trend / Sell on Rise / Key... Base Metals Zinc (Apr 24) Bullish Trend / Buy on Dips... Base Metals Lead (Apr 24) Bullish Trend / Buy at CMP ... Top 5 Special Reports Mumbai Masur Canada Crimson Container Weak Price Trend... Mustard Oil (Jaipur) Trending Lower / Next Support at ... Weekly: ICE cotton futures extend decline; no respite f... Weekly: ICE raw sugar futures post double digit price d... Canadian Lentil Prices Hit Record Highs, Outlook Remain...