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MCX Nickel February 2018 Weekly: Further Rise Is Above 898 Closing

12 Feb 2018 12:01 pm
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Report for Date: 12/02/2018

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

Hold long position with a stop loss of 800.

Expect higher range of 84-872 to be tested.

Accumulate at 809 or below with a stop loss of 800.

Further rise is above 898 closing.


TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

Hold Long

834.00

757.37

UP

739.1

15.12

744.6

808.7

847.4

872.8

936.9



*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

834.0

-3.8

64807748

17.1

6690

-1.1

Negative

Unwinding



TECHINCAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

61.45

-9.66

69.76

-10.87

37.72

-0.10

55.49

-19.63











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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