Report for Date: 24/09/2018
MCX Natural Gas (Price figures below are in Rs/INR per Kg)
Hold long position with a stop loss of 198.
Resistance is at 220-236.
Last week, we had indicated that traders can buy above 209 with low of the week as the stop loss or 199 whichever is lower. The Buy got triggered above 209 and registered a high at 216.10 thereby showing a trend line breakout.
Accumulate at 210.6-205 with a stop loss of 198.
In October contract, weaker opening and correction first to 211.1-205.9 can be used for buying with a stop loss of 199.
Expect higher range for the week in October contract to 220-235.
TREND INFORMATION WITH WEEKLY LEVELS
|
CLOSE
|
WRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
215.20
|
197.58
|
UP
|
196.5
|
3.08
|
189.3
|
205.0
|
210.6
|
220.7
|
236.4
|
*Trend will remain Down as long as last close is below the pink color WRV. Trend will be Up as long as Price is above WRV.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
|
Last Close
|
Price G/L%
|
Volume
|
V -G/L%
|
Open Interest
|
OI -G/L %
|
Candle
|
Position
|
|
215.2
|
7.8
|
198522496.0
|
2.8
|
5437.0
|
31.4
|
Positive
|
Addition Long
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
62.46
|
17.17
|
54.91
|
-0.09
|
4.67
|
23.61
|
65.57
|
36.20
|
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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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