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NCDEX Guar Gum Feb: Hold Long Positions

11 Jan 2017 9:49 am
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 NCDEX Guar Gum Feb: Hold Long Positions


Report for Date: 11/01/17

The trend is up in Guar Gum futures on NCDEX.

Feb 2017 Guar gum futures contract settled at Rs. 6347 per quintal Tuesday.

Hold long positions with a stop loss of 6000.

Further rise is above 6520.

Expect higher levels of 6700 – 6980 to be tested.

INTRA-DAY LEVELS FOR NCDEX GUAR GUM FEB 2017 CONTRACT
STRATEGY CLOSE DRV TREND* Trend Price Trend Date L1 L2 CP L3 L4
Hold Long 6347.00 6304.21 UP 6267 28.12 6203 6292 6326 6381 6470


*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
6347.0 0.1 11720 25.2 38785 8.8 Indecisive Unwinding
 


TECHINCAL INDICATORS TABLE

RSI 1-ROC-RSI Stochastic 1-ROC- Stochastic MACD 1-ROC MACD RS 1-ROC RS
52.89 0.38 39.78 -22.61 35.76 -4.08 63.48 2.73






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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