Report For Date: 21/08/2017
NCDEX Coc Weekly September 2017: Cover Short Position
NCDEX COC :( Price in Rs/Quintal)
Technical Rating: 56.40- Moderate Down Trend
Trend is down and technical rate fell down in relation to its previous week which suggest that down could be limited and sideways volatility could emerge before showing up trend above 1556 for pullback.
A rise and close above 1556 can trigger a pullback towards DRV-1658.
Cover short position at 1483 or below.
Lower range is at 1446-1354.
Resistance will be at 1501-1538-1556.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
1483.0
|
1658.3
|
DOWN
|
2168.0
|
31.03
|
1354
|
1446
|
1501
|
1538
|
1630
|
*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
|
1483.0
|
2.4
|
153860
|
-18.2
|
91670
|
-4.7
|
Indecisive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
60.46
|
4.81
|
69.97
|
7.83
|
84.85
|
11.63
|
56.45
|
9.86
|
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.