NCDEX Dhaniya December Weekly:Expect Higher Range To Be Tested

Report For Date: 28/11/2016

NCDEX Dhaniya December Weekly:Expect Higher Range To Be Tested

NCDEX Dhaniya (Price are in INR (Rs)/Quintal)

Weaker opening and correction first to 7983-7778 can be used for buying with a stop loss of 7220.

Expect higher range of 8356-8934.

The peak of 8730 could be tested in near term to short term.

Subsequently, prices can scale up to the upper channel line as shown in the chart

If the momentum survives then a rally to 9000 and upper channel line cannot be ruled out.
Weakness is can resume below 7610 and 7220.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Long	8151.0	7727.7	UP	8151.0	25.11	7200	7778	7983	8356	8934

*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 can hold long position with DRV as the closing stop loss and close > DRV. Traders can hold short position with DRV as the closing stop loss and close < DRV.

PRICE, VOLUME AND OPEN INTEREST STRATEGY

LAST CLOSE	PRICE G/L%	VOLUME	% V INC/DEC	OPEN INTEREST	% OI INC/DEC	CANDLE	STRATEGY
8151.0	6.9	9590	68.8	6070	519.4	Positive	Addition Long

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC- STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
55.37	11.79	72.41	2.61	2.42	105.91	60.14	32.68

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.