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MCX Nickel January 2019 Weekly: Cover Short Position

7 Jan 2019 9:39 am
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Report for Date: 07/01/2019



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


Cover short position at 773.10 or below as the opportunity arises.

Expect higher range of 788-829 to be tested.

Weakness is below 735.

Resistance will be at 792-805.

Cover short position till 735 is not violated.

Sell on fall below 735 with high of the week as the stop loss or 773.1 whichever is higher.


TREND INFORMATION WITH WEEKLY LEVELS

CLOSE

WRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

773.10

827.02

DOWN

914.3

19.10

705.4

746.7

761.6

788.0

829.3


*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

773.1

4.0

30243000.0

33.7

14756.0

21.1

Positive

Addition Long


TECHINCAL INDICATORS TABLE

RSI

1-ROC-RSI

Stochastic

1-ROC-

Stochastic

MACD

1-ROC

MACD

RS

1-ROC

RS

37.71

19.05

27.82

5.05

-41.31

0.53

29.79

14.59


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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