Report For Date: 22/05/2017
NCDEX Coc Weekly June 2017: Cover Short Position
NCDEX COC :( Price in Rs/Quintal)
Cover short position at 1959 or below as the opportunity arises.
Expect higher range of 1992-2065 to be tested.
Bandwidth has increased and support from demand zone has been witnessed.
Therefore, expect near term rise towards higher range unless sharp fall below 1875 is witnessed.
Cover short position till 1875 is not violated.
Reversal pullback can resume on rise and close above 2035.
Pullback subsequently can be seen towards DRV 2102.
TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Short
|
1959.00
|
2102.88
|
DOWN
|
2168.0
|
31.03
|
1846
|
1919
|
1951
|
1992
|
2065
|
*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
|
|
1959.0
|
-0.7
|
194040
|
-28.1
|
100320
|
-6.5
|
Indecisive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
36.25
|
-2.13
|
20.68
|
17.37
|
-35.84
|
-30.32
|
35.52
|
-0.30
|
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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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