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MCX Natural Gas July 2018 Weekly: Higher Range Is To Book Profits

9 Jul 2018 9:04 am
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Report for Date: 09/07/2018


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


Expect near term correction towards 194-187.

Resistance is at 200-206-209.

Retracement levels are placed at 191-185-180.

A rise above 201 can show a rise towards 206-209.

Overall till 209 is not crossed correction bias towards retracement of 191-185 is likely therefore broad objective remains to take profits on rise till 209 is not crossed on closing.


TREND INFORMATION WITH WEEKLY LEVELS

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

196.70

194.32

UP

189.8

11.05

187.9

194.0

197.4

200.1

206.2


*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

196.7

-2.0

149445008.0

-2.2

3144.0

4.2

Negative

Addition Short


TECHINCAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

53.66

-4.59

42.06

-37.03

3.78

-2.60

43.09

-26.47










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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