Report for Date: 02/03/15
The trend is down and a further fall is likely to be seen in wheat March 2015 contract on National Commodity & Derivatives Exchange (NCDEX).
March 2014 Wheat futures contract has settled at Rs 1,587 per quintal Saturday.
Continue to hold short positions with a stop loss of Rs 1,612.
Expect a fall to Rs 1,550-1,530 levels or below.
INTRA-DAY LEVELS FOR NCDEX WHEAT MARCH 2015 CONTRACT
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Short
|
1587.0
|
1601.3
|
DOWN
|
1637.0
|
4.02
|
1575
|
1583
|
1586
|
1591
|
1599
|
*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
|
|
1587.0
|
0.19
|
230
|
-39.47
|
5580.00
|
-0.89
|
Indecisive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
31.86
|
8.71
|
61.62
|
-1.13
|
-15.16
|
3.23
|
48.31
|
4.22
|
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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