Report for Date: 23/04/15The trend is down in Wheat futures on National Commodity and Derivatives Exchange (NCDEX).
Wheat May 2015 futures contract settled at Rs. 1,442 per quintal Wednesday.
A further decline may be seen on break below Rs 1,436.
Sell below Rs 1,436 with high of the day stop loss or Rs. 1,466 whichever be higher at the time of trade initiation.
Expect a fall to Rs 1,416-1,400 in coming sessions.TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
CLOSE
DRV
TREND*
Trend Price
Trend Date
L1
L2
CP
L3
L4
Sell Below 1,436
1442
1454
DOWN
1451
20.04
1430
1438
1441
1446
1454
*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
1442
0.00
1450
29.46
12940.00
2.70
Indecisive
Addition Long/Short
TECHINCAL INDICATORS TABLE
RSI
1-ROC-RSI
Stochastic
1-ROC-Stochastic
MACD
1-ROCMACD
RS
1-ROCRS
44.78
0.00
21.51
-28.55
-4.48
-19.71
14.59
-20.46
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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