Report for Date: 03/03/15The 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 1,600 per quintal Monday.
Continue to hold short positions with a stop loss of Rs 1,612.
Expect a fall to Rs 1,570-1,550 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
1600.0
1601.2
DOWN
1637.0
4.02
1563.7
1587.7
1599.3
1611.7
1635.7
*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
1600.0
0.82
2880
1152.17
5830.00
4.48
Positive
Addition Long
TECHINCAL INDICATORS TABLE
RSI
1-ROC-RSI
Stochastic
1-ROC-Stochastic
MACD
1-ROCMACD
RS
1-ROCRS
41.44
30.62
64.20
4.19
-13.68
10.17
57.78
19.96
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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