Report For Date: 14/01/2019
NCDEX Barely 10MT (Price are in INR (Rs)/Quintal)
Bearish candle has been witnessed along with rise in open interest on weekly chart basis for adjusted C1 chart.
Resistance will be at 1665-1690.
Further rise is above 1705.
Traders already long can take profit at 1650-1705 range as the opportunity arises.
Further rise can continue if weekly close is above 1705.
Expect sideways volatility between 1705 and 1619(WRV).
Correction and deeper fall can be seen if close is below 1619 with bearish candle on weekly chart at the end of weekly closing.
Buy is above the breakout of 1705 and till then exit long to take profits.
TREND INFORMATION WITH WEEKLY LEVELS
|
CLOSE
|
WRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
1650.50
|
1619.53
|
UP
|
1319.56
|
25.05
|
1560.3
|
1625.3
|
1665.2
|
1690.3
|
1755.3
|
*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. Positional Traders can hold long position with WRV as the closing stop loss and close >WRV. Traders can hold short position with WRV as the closing stop loss and close <WRV.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
|
LAST CLOSE
|
PRICE G/L%
|
VOLUME
|
% V INC/DEC
|
OPEN INTEREST
|
% OI INC/DEC
|
CANDLE
|
POSITION
|
|
1650.5
|
-2.0
|
780.0
|
169.0
|
650.0
|
242.1
|
Negative
|
Addition Short
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
64.46
|
-11.49
|
47.37
|
-30.17
|
67.29
|
-6.61
|
51.79
|
-18.69
|
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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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