Report for Date: 2/05/2016
MCX Natural Gas (Price figures below are in Rs/INR per Kg)
Cover short position at 143.80 or below.
Traders by chance long and holding the same can maintain the stop loss of 133.
Natural Gas must trade above the Monday’s open and above 150.1 in order to generate positive momentum.
Resistance points are 156.60 and 165 which are lower top.
If sustained up move above 150.10 is witnessed on weekly closing then expect a rally towards 156.60 and 165.
Weakness and downside momentum will be restore below 133
Last week was a doji cross candle which suggest that movement is out of the last week high low range of 148-133.
Currently, NG is in indecisive state and directional movement is out of band 148-133.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
143.80
|
144.73
|
DOWN
|
142.9
|
15.0
|
120.5
|
135.3
|
141.6
|
150.1
|
164.9
|
*Trend will remain Down as long as last close is below the pink color DRV. Trend will be Up as long as Price is above DRV.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
Last Close
|
Price G/L%
|
Volume
|
V -G/L%
|
Open Interest
|
OI -G/L %
|
Candle
|
Position
|
143.8
|
0.8
|
341633760
|
-8.1
|
7257
|
32.2
|
Indecisive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
51.67
|
1.02
|
81.59
|
-0.18
|
-5.51
|
19.94
|
55.85
|
7.70
|
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.