Report For Date: 21/08/2017
NCDEX Jeera September Weekly: Higher Range Is To Exit Long
NCDEX Jeera: (Price are in INR (Rs)/Quintal)
Technical Rating: 50- Moderate Up Trend
Traders long and holding the same can maintain the stop loss at 18900.
Resistance will be at 19937-20350.
Further rise is above 20350.
Rise to higher range of 19937 or above can be used to exit long position and take profits.
Bandwidth is falling lead to contraction of movement at higher range.
Further failure to sustain and provide the breakout above 20350 can lead to correction to DRV from current level or by testing higher range.
Therefore traders can first look to take profits at higher range till 20350 is not crossed on closing.
TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
19660.0
|
18593.4
|
UP
|
18315.0
|
9.06
|
18697
|
19317
|
19593
|
19937
|
20557
|
.
*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
|
|
19660.0
|
0.7
|
20370
|
-25.1
|
15930
|
5.9
|
Indecisive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
58.37
|
1.70
|
68.15
|
-0.56
|
463.26
|
1.16
|
49.98
|
-0.65
|
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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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