NCDEX Guar Gum March: Expect Higher Range To Be tested
Report for Date: 23/02/17
The trend is up and major upward movement has witnessed in last trading sessions in Guar Gum futures on NCDEX.
March 2017 Guar gum futures contract settled at Rs. 7172 per quintal Wednesday.
Hold long positions if any with a stop loss of 6690.
Expect higher levels of 7300 – 7600 to be tested in coming sessions.
INTRA-DAY LEVELS FOR NCDEX GUAR GUM MARCH 2017 CONTRACT
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
7172.00
|
6758.21
|
UP
|
6442.0
|
10.02
|
6753.0
|
7013.0
|
7114.0
|
7273.0
|
7533.0
|
*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
|
|
7172.0
|
3.3
|
22805
|
-16.7
|
32135
|
-9.8
|
Positive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
78.13
|
7.82
|
81.36
|
-0.29
|
149.89
|
22.65
|
90.38
|
4.82
|
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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