NCDEX Turmeric June Weekly: Further Weakness Is Below 5234

Report For Date: 29/05/2017

NCDEX Turmeric (Price are in INR (Rs)/Quintal)

Traders short and holding the same can maintain the stop loss at 5715.

Resistance will be at 5457-5681-5714.

Near term pullback rise can be seen above 5715.

A pullback towards DRV-6150 is likely if 5715 is crossed on closing.

Sell is below 5234 with high of the week as the stop loss or 5424 whichever is higher.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Short	5424.0	6150.4	DOWN	8810.0	18.03	4721	5201	5457	5681	6161

*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 can hold long position with DRV as the closing stop loss and close >DRV. Traders can hold short position with DRV as the closing stop loss and close <DRV.

PRICE, VOLUME AND OPEN INTEREST STRATEGY

LAST CLOSE	PRICE G/L%	VOLUME	% V INC/DEC	OPEN INTEREST	% OI INC/DEC	CANDLE	POSITION
5424.0	-2.3	24615	2619.9	13735	2467.3	Negative	Addition Short

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
27.43	-5.44	25.20	20.23	-413.21	-4.94	31.77	-0.74

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.