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MCX Natural Gas March 2017 Weekly: Further Rise Is Above 204 Closing

20 Mar 2017 10:55 am
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Report for Date: 20/03/2017

MCX Natural Gas March 2017 Weekly: Further Rise Is Above 204 Closing

MCX Natural Gas (Price figures below are in Rs/INR per Kg)

Cover short position at 193.30 or below.

Expect higher range of 202-216 to be tested.

On sustained rise and close above 204 with bullish candle at the end of the week near term rally can resume.

Weakness will be restoring below 187 and till then cover short position.


TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

Hold Short

193.3

198.9

DOWN

193.3

17.03

173

187

195

202

216


*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

193.3

-3.3

275427488

-16.3

4978

-16.2

Negative

Unwinding


TECHINCAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

46.31

-4.35

53.15

35.94

-0.16

-119.35

43.07

-10.84





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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