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NCDEX Chana March 2019: Further Rise Is Above 4304 Closing

28 Jan 2019 9:19 am
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Report For Date: 28/01/2019



NCDEX Chana (Price are in INR (Rs)/Quintal)


Resistance will be at 4234-4286.

Further rise is above 4304.

Support will be at 4165-4044

Correction is in progress and may test the support levels.

Further weakness is below 4080.

Traders can buy above 4304 with low of the week as the stop loss 4080.

Accumulate at 4165 or below with a stop loss of 4080.

Sell on fall and close below 4080.

CLOSE

WRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

4216.0

4222.3

DOWN

4142.0

11.01

4044

4165

4234

4286

4407


*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 -G/L%

OPEN INTEREST

OI -G/L %

CANDLE

POSITION

4216.0

1.3

84340.0

7709.3

44100.0

27462.5

Negative

Unwinding


TECHNICAL INDICATORS TABLE

RSI

1-ROC-RSI

STOCHASTIC

1-ROC

STOCHASTIC

MACD

1-ROC

MACD

RS

1-ROC

RS

49.69

3.83

19.04

55.66

64.47

-16.66

41.04

16.58







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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