Report For Date: 20/02/2018
NCDEX Castor Seed March: Key Support Is At Higher Bottom
NCDEX Castor Seed: (Price are in INR (Rs)/Quintal)
The trend is still down but nature of the movement is sideways.
Key support is at higher bottom of 4080.
If support of 4080 remains intact, prices may try to touch upper channel trend-line shown in the chart attached below.
Someone by chance holding any long positions can place stop loss at 4080 to hold the positions.
Expect upside range of 4250 -4340 to be tested in coming sessions.
However, downside break of 4080 may pressure the prices to decline further.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Expect Upside
|
4223
|
4218
|
UP
|
4223
|
19.02
|
4130
|
4197
|
4237
|
4264
|
4331
|
*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.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
|
Last Close
|
Price G/L%
|
Volume
|
V -G/L%
|
Open Interest
|
OI -G/L %
|
Candle
|
Position
|
|
4223.0
|
0.2
|
18790
|
-27.0
|
60870
|
-2.2
|
Indecisive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
47.9
|
1.4
|
62
|
78.1
|
-33
|
9.9
|
45.56
|
2.13
|
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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