NCDEX Castor Seeds August: Further Weakness Is Below 3917
NCDEX Castor Seeds August (Price are in INR(Rs)/Quintal) Expect higher range of 4018-4100 to be tested.
Weakness can restore below 3917.
Pullback to DRV has been witnessed from the low of 3762 to 3986.
DRV is at 4005.
Higher range may attract resistance before sustaining above the DRV.
Correction of the rise from 3762 could resume on fall below 3917.
Sell is below 3917 with high of the day stop loss or 3986 whichever is higher.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
CLOSE
DRV
TREND*
TrendPrice
TrendDate
L1
L2
CP
L3
L4
Hold Short
3986.00
4005.93
DOWN
4144.0
15.06
3854
3936
3967
4018
4100
*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
3986.0
1.5
57510
0.4
122400
-2.7
Positive
Unwinding
TECHNICAL INDICATORS TABLE
RSI
1-ROC-RSI
STOCHASTIC
1-ROCSTOCHASTIC
MACD
1-ROCMACD
RS
1-ROCRS
48.32
13.48
68.40
88.81
-46.92
12.80
57.31
13.21
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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