Report for Date: 30/03/15The trend has turned down in Wheat futures on National Commodity and Derivatives Exchange (NCDEX).
Wheat April 2015 futures contract settled sharply lower at 1,425 per quintal Friday.
Support of Rs 1,480 has broken.
Hold Short positions with a stop loss of Rs 1,442.
Expect lower levels of Rs 1,390-1,360 to be tested in volatility.TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
CLOSE
DRV
TREND*
Trend Price
Trend Date
L1
L2
CP
L3
L4
Hold Short
1425
1459
DOWN
1450
23.03
1401
1417
1424
1433
1449
*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
1425
0.35
810
72.34
3230.00
-5.83
Indecisive
Unwinding
TECHINCAL INDICATORS TABLE
RSI
1-ROC-RSI
Stochastic
1-ROC-Stochastic
MACD
1-ROCMACD
RS
1-ROCRS
29.67
10.03
20.72
38.48
-17.46
-7.94
23.68
2.92
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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