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MCX Nickel July 2018 Weekly: Expect Correction Towards Drv

9 Jul 2018 9:06 am
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Report for Date:09/07/2018


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


Exit long from 958 to 1002 as the opportunity arises.

Resistance will be at 978-1002.

Lower range is at 935-868.

Correction towards DRV-928 is likely to be tested.

Traders can accumulate at DRV-928 or below with a stop loss of 920.


TREND INFORMATION WITH WEEKLY LEVELS

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

958.9

928.1

UP

739.1

15.12

868

935

978

1002

1069


*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

958.9

-6.2

56734748.0

21.0

7063.0

310.6

Negative

Addition Short


TECHINCAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

55.06

-16.96

35.15

-44.13

52.92

-10.87

37.80

-36.01








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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