19 Sep 2013 NCDEX Castor Seed Oct - Support cluster at lower range of 3550-3450 zone Castor Seeds October A correction of the last rally from 3171 to 3954 is in progress. The 50% and 61.8% retracement of the last rally from 3171 to 3954 are placed at 3564 and 3470. The low registered yesterday was 3545 and closed at 3595. Stochastic is in oversold zone. RSI and MACD is falling. Parabolic Sar trend is down. Candlestick pattern suggest that momentary halt to the fall can be seen if sustains above 3631. Support cluster is in the range of 3464and 3470. Traders by chance short on own can keep the stop loss at 3631. If Castor Seeds trades above the open registered of the day and above 3631 then buy with low of the day stop loss or 3595 whichever is lower. Trend is down. Retracement levels are being tested. A fall and close below 3553 can lead to a deeper correction. Support could be seen at the retracement zone of 3564 and 3470. Lower range for the day is at 3550-3464. Bounce can be seen from lower cluster range of 3501-3464-3450. Traders willing to take chance with the stop loss can buy with at 3464 or below if the opportunity arises with a stop loss of 3450. Last Close(Rs) - 3595 DRV - 3721 TREND - DOWN L1 - 3464 L2 - 3550 CP - 3590 L3 - 3636 L4 - 3722
Posted on: Thu, 19 Sep 2013 04:19:22 +0000
Trending Topics
Recently Viewed Topics
© 2015