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MCX Nickel December 2017 Weekly: Sideways Volatility Likely

4 Dec 2017 10:16 am
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Report for Date: 04/12/2017

MCX Nickel December 2017 Weekly: Sideways Volatility Likely

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

Resistance is at 736-764-779.

Support will be at 703-692-665.

Upside momentum will resume above 779 closing.

Expect volatility between 779-703.



TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

-

731.4

707.9

UP

656.9

28.07

642

703

736

764

825


*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

731.4

-5.5

55363248

13.1

20796

91.6

Negative

Addition Short


TECHINCAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

52.75

-11.40

21.65

-46.09

28.99

-10.74

44.00

-20.36






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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