Report for Date: 21/11/2016
MCX Natural Gas (Price figures below are in Rs/INR per Kg)
Cover short position at 193.6 or below as the opportunity arises.
Weaker opening and correction first to 190-185 can be used for buying with a stop loss of 170.
Expect higher range of 198-212 to be tested.
Expect a pullback to 204 in near term.
Downside momentum can resume on fall and close below 178 and 167.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
193.6
|
185.5
|
UP
|
193.6
|
18.11
|
171
|
185
|
190
|
198
|
212
|
*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.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
Last Close
|
Price G/L%
|
Volume
|
V -G/L%
|
Open Interest
|
OI -G/L %
|
Candle
|
Position
|
193.6
|
8.3
|
351682496
|
-21.6
|
5669
|
-37.4
|
Positive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
51.48
|
9.95
|
18.40
|
-23.82
|
48.85
|
-8.22
|
46.37
|
7.84
|
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.