NCDEX Maize April: Cover Short Positions
Report for Date: 20/03/17
The trend has up but market movement is sideways in Maize futures on National Commodity and Derivatives Exchange (NCDEX).
Maize April 2017 futures contract settled at Rs 1431 per quintal Friday.
Ideally, cover short positions on dips to 1425 – 1415 levels or below as the opportunity arises.
Sell only on fall and close below 1395.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Cover Short
|
1431.00
|
1432.23
|
DOWN
|
1431.00
|
17.03
|
1412.33
|
1425.33
|
1432.67
|
1438.33
|
1451.33
|
*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
|
1431.0
|
-1.0
|
320
|
-30.4
|
1810
|
1.1
|
Negative
|
Addition Short
|
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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