The trend has turned up in Wheat futures on National Commodity and Derivatives Exchange (NCDEX).
Sep 2017 futures contract settled at 1672 per quintal Monday.
Buy on dips to 1665 – 1660 with a stop loss of 1650.
Expect a rise to 1680 – 1700 levels or above in coming sessions.TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
CLOSE
DRV
TREND*
TrendPrice
TrendDate
L1
L2
CP
L3
L4
Buy On Dips
1672.00
1661.07
UP
N/A
N/A
1661.00
1668.00
1671.00
1675.00
1682.00
*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
1672.0
0.2
1270
-3.1
14640
-3.0
Positive
Unwinding
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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