Report for Date: 27/04/15The trend is sideway in Wheat futures on National Commodity and Derivatives Exchange (NCDEX).
Wheat May 2015 futures contract settled at Rs. 1,469 per quintal Friday.
It looks like a triangle is forming and price are likely to stay in contracting range in coming sessions, so a dual side volatility is expected.
Practically speaking there is not much room for a clear trade and by chance anyone having long can keep stop loss of Rs 1,450 and try to book profits on rise to Rs 1,479-1,504 levels or above as the opportunity arises.
Avoid any fresh positions for the time-being.TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
CLOSE
DRV
TREND*
Trend Price
Trend Date
L1
L2
CP
L3
L4
Avoid Positions
1469
1448
UP
1449
23.04
1429
1454
1465
1479
1504
*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
1469
1.38
9670
249.10
15120.00
10.04
Positive
Addition Long
TECHINCAL INDICATORS TABLE
RSI
1-ROC-RSI
Stochastic
1-ROC-Stochastic
MACD
1-ROCMACD
RS
1-ROCRS
54.23
16.02
56.88
89.60
-3.62
30.63
25.56
110.42
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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