The trend is still up but a profit taking is being witnessed in Maize April 2015 contract on National Commodity & Derivatives Exchange (NCDEX).
April 2015 maize futures contract has settled at Rs 1,228 per quintal Thursday.
Ideally, book profits and exit long positions on rise to Rs 1,240-1,265 levels or above as the opportunity arises.
Re-enter long on rise and close above Rs 1,303.
INTRA-DAY LEVELS FOR NCDEX MAIZE APRIL 15 CONTRACT
STRATEGY
CLOSE
DRV
TREND*
Trend Price
Trend Date
L1
L2
CP
L3
L4
Book Profits
1228
1222
UP
1187
16.03
1163
1207
1229
1251
1295
*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 Inc/Dec
Open Interest
% OI Inc/Dec
Candle
Position
1228
-1.13
2160
-6.49
3940.00
-4.83
Negative
Unwinding
TECHINCAL INDICATORS TABLE
RSI
1-ROC-RSI
Stochastic
1-ROC-Stochastic
MACD
1-ROCMACD
RS
1-ROCRS
63.13
-10.84
29.80
-41.38
24.10
-7.58
42.96
-24.15
Disclaimer: There is risk of loss in trading in derivatives and the report is not to be construed as investment advice. The nformation 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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