NCDEX Mustard October: Pullback Can Resume Above 4750 Closing

Report For Date: 23/09/2016

NCDEX Mustard October: Pullback Can Resume Above 4750 Closing

NCDEX Mustard: (Price are in INR (Rs)/Quintal)


Exit long and sell on rise from 4689 to 4718 with a stop loss of 4750.

Expect lower range of 4666-4614 to be tested.

Pullback can resume above 4750.

Trend is still down and further weakness is below 4672.

Reversal for pullback is above 4750 for a subsequent rise towards DRV-4795.

TREND INFORMATION WITH INTRA-DAY LEVELS

*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

TECHNICAL INDICATORS TABLE

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.