NCDEX Jeera December Weekly: Expect Peak Of 20020 To Be Tested

Report For Date: 28/11/2016

NCDEX Jeera December Weekly: Expect Peak Of 20020 To Be Tested

NCDEX Jeera: (Price are in INR (Rs)/Quintal)

Weaker opening and correction first to 18300-17830 can be used for buying with a stop loss of 15975.

Expect higher range of 19240-20650 to be tested.

The peak for Jeera price is 20020 and the same is likely to be tested in near term to short term.

Whenever breakout and close above 20020 is witnessed then the rally can get extended to 21500 and test the upper channel line as shown in the chart.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Long	18770.0	17373.4	UP	17490.00	18.11	16420	17830	18300	19240	20650

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*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
18770.0	7.3	21171	2161.9	7752	14255.6	Positive	Addition Long

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
59.13	13.94	65.07	10.12	158.64	208.32	65.21	37.53

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.