NCDEX Guar Gum Dec: Buy On Dips
Report for Date: 02/12/16
The trend has turned up in Guar gum futures on NCDEX.
Dec 2016 Guar gum futures contract settled at Rs. 6372 per quintal Thursday.
Corrective dip can be used for buying at 6320 or bellow as opportunity arises with stop loss of 6200.
Expect a rise to 6425 – 6520 levels or above.
INTRA-DAY LEVELS FOR NCDEX GUAR GUM DEC 2016 CONTRACT
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Cover Short
|
6372.00
|
6267.16
|
UP
|
6292
|
30.11
|
6211
|
6321
|
6381
|
6431
|
6541
|
*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
|
|
6372.0
|
1.3
|
5460
|
-55.3
|
16820
|
-6.1
|
Indecisive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
53.52
|
6.13
|
59.29
|
-17.86
|
-34.42
|
30.20
|
60.68
|
10.74
|
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.
|
0 Comments 
Post Comment 
