NCDEX Castor Seeds September: Cover Short Position
NCDEX Castor Seeds September (Price are in INR(Rs)/Quintal) Cover short position at 4057 or below.
Traders short can maintain the stop loss at 4085.
Weakness will resume below 3960 and till then cover short position as the opportunity arises.
Near term rise to 4128-4181 can happen if 3960 is not violated in near term.
Wider band is 3960 -4181 for next few days could be seen for volatility.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
CLOSE
DRV
TREND*
TrendPrice
TrendDate
L1
L2
CP
L3
L4
Hold Short
4057.00
4078.88
DOWN
4072.0
21.08
4018
4044
4058
4070
4096
*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
4057.0
-0.1
54350
37.2
145220
-7.1
Indecisive
Unwinding
TECHNICAL INDICATORS TABLE
RSI
1-ROC-RSI
STOCHASTIC
1-ROCSTOCHASTIC
MACD
1-ROCMACD
RS
1-ROCRS
47.52
-0.86
41.22
54.73
-6.18
-7.02
35.26
-9.82
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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