NCDEX Barley April: Buy On Dips
Report for Date: 22/03/17
The trend is up in Barley futures on National Commodity and Derivatives Exchange (NCDEX).
Barley April 2017 futures contract settled at Rs 1577.00 per quintal Tuesday.
Corrective dip can be used for buying at 1565 or lower as opportunity arises with stop loss of 1535.
Expect further upward movement to 1590 – 1620 in coming sessions.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Avoid Trade
|
1577.00
|
1535.71
|
UP
|
1557
|
20.03
|
1543
|
1565
|
1574
|
1587
|
1609
|
*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
|
|
1577.0
|
1.3
|
120
|
-78.2
|
1030
|
5.1
|
Positive
|
Addition Long
|
TECHNICAL INDICATORS TABLE
|
Last Close
|
Price G/L%
|
Volume
|
% V Inc/Dec
|
Open Interest
|
% OI Inc/Dec
|
Candle
|
Position
|
|
72.24
|
5.81
|
77.35
|
18.23
|
12.60
|
27.85
|
72.05
|
11.53
|
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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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