NCDEX Wheat May: Sell on Rise
Report for Date: 18/04/17
The trend is turned down and major downward movement has witnessed in last trading session in Wheat on National Commodity and Derivatives Exchange (NCDEX).
May 2017 futures contract settled at 1641 per quintal Monday.
Sell on rise to 1647 or above as opportunity arises with stop loss of 1672.
Expect further downward movement to 1630 – 1615 in coming sessions.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
1641.00
|
1664.35
|
DOWN
|
1665.00
|
7.04
|
1615.33
|
1634.33
|
1646.67
|
1653.33
|
1672.33
|
*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
|
|
1641.0
|
-1.0
|
1970
|
-36.5
|
11170
|
0.5
|
Negative
|
Addition Short
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
33.41
|
-16.80
|
31.37
|
-34.97
|
-3.76
|
-108.13
|
34.63
|
8.76
|
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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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