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NCDEX Jeera March 2019 Weekly: Reversal Above 17400 Closing

19 Jan 2019 3:41 pm
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Report For Date: 21/01/2019



NCDEX Jeera: (Price are in INR (Rs)/Quintal)


Cover short position at 17050 or below as the opportunity arises.

Resistance will be at 17246-17616

Weakness is below 16700 and till the same is not violated objective remains to cover short position.

Sell is below 16700 with high of the week as the stop loss or 17050 whichever is higher at the point of fall below 16700.

Reversal can resume if sustains above 17400 on weekly closing basis with bullish candle.


TREND INFORMATION WITH WEEKLY LEVELS

CLOSE

WRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

17050.0

18073.2

DOWN

18870.0

30.11

16507

16877

17073

17247

17617

.
*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: If trend is up then traders long can hold long position with closing stop loss of WRV: Close >WRV. If trend is down then traders can hold short position with a closing stop loss of WRV: Close <WRV.

PRICE, VOLUME AND OPEN INTEREST STRATEGY

LAST CLOSE

PRICE G/L%

VOLUME

% V INC/DEC

OPEN INTEREST

% OI INC/DEC

CANDLE

POSITION

17050.0

0.0

5142.0

-18.3

2931.0

8.4

Indecisive

Addition Long/Short

TECHNICAL INDICATORS TABLE

RSI

1-ROC-RSI

STOCHASTIC

1-ROC

STOCHASTIC

MACD

1-ROC

MACD

RS

1-ROC

RS

37.58

0.14

17.70

15.90

-355.96

-25.46

20.58

-9.78

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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