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NCDEX Wheat January: Cover Short Positions

7 Dec 2017 10:32 am
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Report For Date: 07/12/2017


NCDEX Wheat January:
Cover Short Positions

NCDEX Wheat (Price are in INR)

The trend is down but a reversal is likely to be seen.

Ideally, cover short positions on dips to 1670 – 1660 levels or below as the opportunity arises.

Wait for fresh positions for the time-being.

TREND INFORMATION WITH INTRA-DAY LEVELS


STRATEGY CLOSE DRV TREND* Trend Price Trend Date L1 L2 CP L3 L4
Cover Short 1674 1696 DOWN N/A N/A 1660 1670 1675 1680 1690



*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 -G/L% OPEN INTEREST OI -G/L % CANDLE POSITION
1674.0 -0.7 610 -19.7 4350 7.7 Negative Addition Short





Note: Red Color Bar= Down Trend, Green Color Bars= Up Trend, Blue Color Bars= Sideways(Trend could be up or down), Pink Color line= DRV, V marked= Increase in Volume in relation to last few days. 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. Blue Color dots above the price are profit booking alerts. Purple dot on the charts are swing top/bottoms could be in place.

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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