NCDEX Guar Gum Feb: DRV Is Offering Support



NCDEX Guar Gum Feb: DRV Is Offering Support

18 Jan 2018 9:57 am

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Report For Date: 18/01/2018

NCDEX Guar Gum Feb: DRV Is Offering Support

NCDEX Guar Gum (Price are in INR/Quintal)

The trend is up but nature of the movement is sideways.

Support of 9380 has broken and a decline towards DRV has seen.

It needs to be seen whether DRV can offer a considerable support or a further decline unfolds.

38.2$ retracement of the rise from 8416 to 9831 has completed at low of 9275 and a 50 % retracement at 9115 may be seen if low of 9275 is broken with high volume.

Ideally, exit any pending long positions on rise to 9420 – 9470 levels or above as the opportunity arises.

Wait for 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
Book Profits	9379	9274.4	UP	N/A	N/A	9065	9271	9370	9477	9683

*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 -G/L%	OPEN INTEREST	OI -G/L %	CANDLE	POSITION
9379.0	0.6	19470	-7.3	77515	0.0	Positive	Addition Long

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
57.7	3.0	18	19.0	169	-7.9	48.99	-0.98

Note: Red Color Bar= Down Trend, Green Color Bars= Up Trend, Blue Color Bars= Sideways(Trend could be up or down), Pink Color line= DRV, V marked= Increase in Volume in relation to last few days. 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. Blue Color dots above the price are profit booking alerts. Purple dot on the charts are swing top/bottoms could be in place.

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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