Report For Date: 19/04/2018
NCDEX Guar Seeds 10 Mt May: Cover Short Position
NCDEX Guar Seeds (Price are in INR )
Cover short position at 4116 or below as the opportunity arises.
Support will be at 4097 or below.
A rise towards DRV-4216 and Bollinger Upper Band of 4265 could be seen.
Currently price are below the Bollinger Lower Band which is at 4167.
The lower top is at 4190.
Expect resistance at 4141-4185-4190.
A rise and close above 4167 with bullish candle can attempt for pullback reversal towards DRV-4216 and may be scale up to Bollinger Upper Band which is at 4265 currently.
Further weakness is below 4033 and till then lower range is to cover short position.
TREND INFORMATION WITH INTRA-DAY LEVELS
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
4116.50
|
4216.46
|
DOWN
|
N/A
|
N/A
|
4053.7
|
4097.7
|
4122.8
|
4141.7
|
4185.7
|
*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
|
4116.5
|
-0.2
|
43670
|
-31.8
|
129410
|
0.3
|
Negative
|
Addition Short
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
42.39
|
-2.00
|
45.64
|
0.18
|
-55.51
|
6.25
|
61.55
|
-25.46
|
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.