NCDEX Guar Gum Nov: Exit Long Positions
Report for Date: 24/10/16
The trend is down in Guar gum futures on NCDEX.
Nov 2016 Guar gum futures contract settled at Rs. 6534 per quintal Friday.
Some pressure may be seen from resistance levels and therefore, exit long positions on rise to 6620 – 6750 levels or above as the opportunity arises.
Re-enter long on rise and close above 7495.
INTRA-DAY LEVELS FOR NCDEX GUAR GUM NOV 2016 CONTRACT
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Exit Long
|
6534.00
|
6741.37
|
DOWN
|
6669
|
10.10
|
6363
|
6487
|
6563
|
6611
|
6735
|
*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
|
|
6534.0
|
-1.1
|
12495
|
-3.5
|
32445
|
-4.7
|
Indecisive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
45.15
|
-4.00
|
56.36
|
18.26
|
-63.03
|
-7.57
|
41.57
|
-8.50
|
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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