Report for Date: 17/07/2017
MCX Nickel July 2017 Weekly: Cover Short Position
MCX Nickel (Price figures below are in Rs/INR per Kg)
Cover short position at 612.6 or below as the opportunity arises.
Support will be at 600-585.
Resistance is at 627-622.
Further rise is above 67.30 closing.
Contrarian accumulation can be undertaken at 600-585 as the opportunity arises with a stop loss of 558.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
612.6
|
622.0
|
DOWN
|
660.5
|
10.03
|
543.7
|
585.5
|
600.1
|
627.3
|
669.1
|
*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
|
612.6
|
5.5
|
33547250
|
12.0
|
27491
|
-13.7
|
Positive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
47.06
|
19.24
|
76.75
|
25.94
|
-23.52
|
11.31
|
50.73
|
30.50
|
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.