NCDEX Mustard September: (Price are in INR (Rs)/Quintal)
Exit long on rise from 4205-4238-4298 as the opportunity arises.
Expect lower range of 4178-4118.
Sideways volatility and oscillation around the DRV of 4229 is likely to be seen.
Unwinding of position long and should could get dominant.
Support cluster is at 4177.
Downside momentum could be seen below 4177.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
CLOSE
DRV
TREND*
TrendPrice
TrendDate
L1
L2
CP
L3
L4
Hold Short
4205.0
4229.2
DOWN
4229.0
26.08
4118
4178
4212
4238
4298
*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
PRICE G/L%
VOLUME
% V INC/DEC
OPEN INTEREST
% OI INC/DEC
CANDLE
POSITION
4205.0
-0.5
40790
4.0
67230
-4.1
Negative
Unwinding
TECHNICAL INDICATORS TABLE
RSI
1-ROC-RSI
STOCHASTIC
1-ROC-STOCHASTIC
MACD
1-ROCMACD
RS
1-ROCRS
48.93
-7.06
25.63
-36.87
5.69
-22.26
31.24
-24.25
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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