NCDEX Dhaniya September Weekly: Cover Short Position

Report For Date: 21/08/2017

NCDEX Dhaniya September Weekly: Cover Short Position

NCDEX Dhaniya (Price are in INR (Rs)/Quintal)

Technical Rating: 71.70 – Strong Down Trend

Technical Rating suggest that down trend has been strong but has fallen in relation to its

previous week rating. This indicates that falling could be losing downside momentum.

Traders short and holding the same can maintain the stop loss at 4860.

Last bottom was at 4650 and the same was violated and close last week was at 4832 with

positive candle which suggest that further weakness is below 4566.

Cover short position at 4832 or below as the opportunity arises.

Expect higher range of 4931-5213 to be tested.

Sell is below 4566 with high of the week as the stop loss or cover short position.

Bandwidth has started falling suggesting that in near term contraction of movement is likely to happen.

All indicators have started moving up which can be seen as 1-ROC in the indicator tables.

The 61.8% of the fall from 5405 to 4566 is at 5070 and if the same in crossed in near term with positive candle then a rally to 5405 and DRV-5552 could be witnessed.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Short	4832.00	5552.6	DOWN	7192.0	13.04	4367.3	4649.3	4748.7	4931.3	5213.3

*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 can hold long position with DRV as the closing stop loss and close > DRV. Traders can hold short position with DRV as the closing stop loss and close < DRV.

PRICE, VOLUME AND OPEN INTEREST STRATEGY

LAST CLOSE	PRICE G/L%	VOLUME	% V INC/DEC	OPEN INTEREST	% OI INC/DEC	CANDLE	STRATEGY
4832.00	4.5	26070	-36.4	37000	-8.5	Positive	Unwinding

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC- STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
32.52	19.80	20.80	11.93	-570.58	2.92	28.28	70.41

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.