Report for Date: 28/11/2016
MCX Natural Gas (Price figures below are in Rs/INR per Kg)
Expect higher range of 218.6-238 to be tested.
Weakness is below 193.
The recent peak was at 225 therefore higher range can attract resistance/selling /profit booking.
Weaker opening and correction first to 206.5-199.2 can be used for buying with a stop loss of 193.
In the event of a breakout and close above 225.20, a rally towards 270 can be witnessed.
TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
211.20
|
186.14
|
UP
|
193.6
|
18.11
|
179.8
|
199.2
|
206.5
|
218.6
|
238.0
|
*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
|
|
211.2
|
9.1
|
252868736
|
-28.1
|
888
|
-84.3
|
Positive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
59.69
|
10.94
|
48.00
|
79.46
|
8.83
|
9.07
|
59.93
|
26.91
|
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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