Report For Date: 24/04/2017
NCDEX Coc Weekly May 2017: Cover Short Position
NCDEX COC :( Price in Rs/Quintal)
Traders short and holding the same can maintain the stop loss at 2075.
Cover short position as addition of long position has been witnessed.
Open interest increased with the rise and positive candle which indicates addition of long position.
Bandwidth is falling which suggest that downside could be limited.
Expect higher range of 2093-2195 to be tested.
Cover short position at 2033-1991 as the opportunity arises.
TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Short
|
2051.00
|
2162.37
|
DOWN
|
2168.0
|
10.03
|
1889
|
1991
|
2033
|
2093
|
2195
|
*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
|
|
2051.0
|
0.6
|
41460
|
-28.1
|
134810
|
6813.3
|
Positive
|
Addition Long
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
42.29
|
2.72
|
16.59
|
92.63
|
-17.49
|
-53.42
|
35.12
|
22.68
|
.png)
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.
0 Comments 
Post Comment 
