Report For Date: 13/01/2017
NCDEX Jeera January’17 Weekly: Cover Short Position
NCDEX Jeera: (Price are in INR (Rs)/Quintal)
Cover short position at 17400 or below as the opportunity arises.
Expect higher range of 17672-18417 to be tested.
Weakness will resume below 16725.
Contrarian buy situation has emerged as open interest increased with the rise and positive candle. Therefore, weaker opening and correction first to 17198-16927 can be used for buying with a stop loss of 16725.
Sell is below 16725 with high of the week as stop loss or 17400 whichever is higher.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
17400.0
|
17436.9
|
DOWN
|
17440
|
9.12
|
16182
|
16927
|
17198
|
17672
|
18417
|
.
*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
|
17400.0
|
2.1
|
14685
|
102.5
|
3996
|
58.9
|
Positive
|
Addition Long
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
50.66
|
4.80
|
45.86
|
107.93
|
-97.40
|
21.08
|
56.38
|
4.86
|
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.