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.