Report For Date 3/05/2016NCDEX Mustard May: Correction Is In ProgressNCDEX Mustard: (Price are in INR (Rs)/Quintal) Exit long and sell on rise to 4364-4388 with a stop loss of 4410.Expect lower range of 4325-4262 to be tested.A close above 4410 can end correction.Traders can buy if trades above the open and above 4410 with low of the day stop loss or 4348 whichever is lower.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
CLOSE
DRV
TREND*
TrendPrice
TrendDate
L1
L2
CP
L3
L4
Hold Short
4348.00
4375.50
DOWN
4348.0
2.05
4262
4325
4364
4388
4451
*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
4348.0
-1.1
45030
-14.1
45290
-6.2
Negative
Unwinding
TECHNICAL INDICATORS TABLE
RSI
1-ROC-RSI
STOCHASTIC
1-ROC-STOCHASTIC
MACD
1-ROCMACD
RS
1-ROCRS
50.73
-6.89
27.57
-26.22
67.25
-14.75
38.70
-8.96
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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