Report For Date: 21/11/2016
NCDEX Jeera December Weekly: Further Rise Is Above 18380 Closing
NCDEX Jeera: (Price are in INR (Rs)/Quintal)
Volatility band for last few weeks is 16110 to 18380.
Next directional movement on weekly chart is outside the band 16110-18380.
Cover short position at 17065 or below as the opportunity arises.
Expect 17830 or above as the opportunity rises.
Resistance will be at 17830-18380.
Traders long can use rise to resistance to exit long position.
Unwinding of long and short position is currently dominant leading to volatility in a band of 16110-18380.
Reversal and upside momentum can be witnessed 18380 closing.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
17320.00
|
17498.44
|
DOWN
|
16555.00
|
11.11
|
15280
|
16555
|
17065
|
17830
|
19105
|
.
*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
|
17320.0
|
4.6
|
17382
|
-43.9
|
7827
|
-15.6
|
Positive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
49.49
|
13.81
|
54.20
|
-17.16
|
29.45
|
-31.8
|
39.51
|
17.10
|
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.