NCDEX Castor Seeds September: Cover Short Position
NCDEX Castor Seeds September (Price are in INR(Rs)/Quintal) Swing bottom appears to be in place as a result of the higher high and low over its previous day after a fall.
Further weakness will continue below 3990.
Expect higher range of 4088-4155 to be tested.
Cover short position at 4060-4021 range as the opportunity arises.
Sell is below 3990 and till then cover short position.
A near term rise to 4129-4181 can be witnessed if sustains a closing above 4088.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
CLOSE
DRV
TREND*
TrendPrice
TrendDate
L1
L2
CP
L3
L4
Hold Short
4060.00
4081.14
DOWN
4072.0
21.08
3954
4021
4049
4088
4155
*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
4060.0
0.7
39600
-43.4
156370
-2.2
Positive
Unwinding
TECHNICAL INDICATORS TABLE
RSI
1-ROC-RSI
STOCHASTIC
1-ROCSTOCHASTIC
MACD
1-ROCMACD
RS
1-ROCRS
47.93
9.71
26.64
81.30
-5.77
-5.72
39.10
30.82
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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