NCDEX Mustard April 2018: Sideways Movement In Progress
NCDEX Mustard: (Price are in INR (Rs)/Quintal)
Sideways movement is being witnessed with volatility.
Expect higher range of 4176-4206 to be tested.
Weakness will be below 4103.
Oscillation around DRV can be witnessed.
TREND INFORMATION WITH INTRA-DAY LEVELS
CLOSE
DRV
TREND*
TrendPrice
TrendDate
L1
L2
CP
L3
L4
4159.00
4139.30
UP
4159.0
13.03
4116
4146
4164
4176
4206
*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 can hold long position with DRV as the closing stop loss and close > DRV. Traders can hold short position with DRV as the closing stop loss and close < DRV.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
LAST CLOSE
PRICEG/L%
VOLUME
% V INC/DEC
OPENINTEREST
% OI INC/DEC
CANDLE
POSITION
4159.0
-0.3
23620
-33.4
42620
2.3
Negative
Addition Short
TECHNICAL INDICATORS TABLE
RSI
1-ROC-RSI
STOCHASTIC
1-ROC-STOCHASTIC
MACD
1-ROCMACD
RS
1-ROCRS
51.27
-2.65
41.84
12.24
12.94
-9.69
48.48
-10.86
Note: UP Green= Shows Up Trend as Close > DRV (Pink Line), DN Red= Shows Down Trend as Close < DRV(Pink Line), Red Color Bar= Down Trend + Bandwidth Is Rising, Green Color Bars= Up Trend + Bandwidth Is Rising, Blue Color Bars= Sideways(Trend could be up or down + Bandwidth is falling), 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. Bandwidth Indicator= Helps to determine directional speed in the direction of the trend. Falling Bandwidth would indicates loss of momentum being witnessed or likely to be witnessed. Sideways movement may emerge or upside or downside could be locked until Bandwidth does not turn up. Rising Bandwidth can bring about directional momentum.
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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