The trend is turned down in Wheat futures on National Commodity and Derivatives Exchange (NCDEX).
Sep 2016 futures contract settled at 1736 per quintal Tuesday.
Exit long positions at 1745 to 1755 Level as opportunity arises.
Further upward movement only after rise and close above 1762. TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
CLOSE
DRV
TREND*
TrendPrice
TrendDate
L1
L2
CP
L3
L4
Hold Long
1736.0
1709.1
UP
1665.0
27.1
1699
1721
1729
1743
1765
*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
1736.0
0.23
1370
-14.91
18520.00
-4.83
Positive
Unwinding
TECHNICAL INDICATORS TABLE
RSI
1-ROC-RSI
STOCHASTIC
1-ROC-STOCHASTIC
MACD
1-ROCMACD
RS
1-ROCRS
53.97
3.01
48.82
16.17
5.28
-3.47
73.47
-1.27
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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