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MCX Nickel April 2017 Weekly: Expect Lower Range To Be Tested

17 Apr 2017 10:22 am
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Report for Date: 17/04/2017

MCX Nickel April 2017 Weekly: Expect Lower Range To Be Tested

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


Traders short and holding the same can maintain the stop loss at 680.

Addition of short position has been witnessed as open interest increased with the fall and negative candle.

Exit long and sell on rise to 637-649 with a stop loss of 680.

Expect lower range of 615-581 to be tested.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

Hold Short

626.70

686.86

DOWN

660.5

10.03

581.4

615.0

637.0

648.6

682.2


*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

626.7

-4.6

32192250

-21.3

36040

31.5

Negative

Addition Short


TECHINCAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

41.32

-8.55

16.38

13.63

-11.41

-42.29

31.87

-17.33







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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