Report for Date: 23/01/17
NCDEX Guar seeds10 Feb: Triangle Concludes, Rally Begins
The trend is up in Guar seed futures on NCDEX.
Feb 2017 futures contract settled at Rs 3384 per quintal Friday.
The suspected triangle has unfolded in the predicted manner so far.
A sharp rise and close above 3411 shall provide a cushion the prices to rise further.
Ideally, hold long positions with a stop loss of 3280.
On close above 3411(“d”), prices may try to escalate towards 3520 – 3630 levels or above in coming sessions.
INTRA-DAY LEVELS FOR NCDEX GUAR SEED FEB 2017 CONTRACT
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
3384.00
|
3330.46
|
UP
|
3333
|
12.01
|
3324
|
3362
|
3377
|
3400
|
3438
|
*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
|
3384.0
|
0.5
|
24800
|
12.0
|
73470
|
-0.7
|
Positive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
57.45
|
4.01
|
55.39
|
-10.89
|
15.00
|
16.44
|
64.27
|
8.39
|
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.