The trend is up but a profit taking is being witnessed in Guar Seeds futures on National Commodity & Derivatives Exchange (NCDEX).
June 2015 futures contract settled at Rs 5,195 per quintal Tuesday.
A sharp fall to touch the lower trend line of the price channel has been seen in Guar seed futures.However, for a major reversal a faster retracement of the recent rise and a faster break of the price channel which is yet to be seen.
Ideally, first priority is to book profit and exit long positions on rise to Rs 5,245-5,395 levels or above as the opportunity arises.
Re-enter long on rise and close above Rs 5,410.
INTRA-DAY LEVELS FOR NCDEX GUAR SEED JUNE 2015 CONTRACT
STRATEGY
CLOSE
DRV
TREND*
Trend Price
Trend Date
L1
L2
CP
L3
L4
Book Profits
5195
4835
UP
3907
1.04
4945
5095
5145
5245
5395
*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
5195
3.98
1370
-95.51
19190.00
-1.94
Positive
Unwinding
TECHINCAL INDICATORS TABLE
RSI
1-ROC-RSI
Stochastic
1-ROC-Stochastic
MACD
1-ROCMACD
RS
1-ROCRS
68.02
6.61
31.44
-1.99
290.45
0.24
60.00
8.69
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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