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MCX Nickel August 2017 Weekly: Accumulate

7 Aug 2017 12:23 pm
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Report for Date: 07/08/2017

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

Traders long and holding the same can maintain the stop loss at 607.

Expect higher range of 665-681 to be tested.

Accumulate on correction to DRV-629 with a stop loss of 607.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

Hold Long

659.0

629.2

UP

656.9

28.07

633.8

649.8

656.7

665.8

681.8


*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

659.0

0.3

35100248

-19.4

17980

70.5

Indecisive

Unwinding



TECHINCAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

56.35

0.67

91.80

0.28

-10.51

31.09

66.62

-2.36










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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