Report for Date: 16/01/2017
MCX Nickel January 2017 Weekly: Lower Range Is To Cover Short
MCX Nickel (Price figures below are in Rs/INR per Kg)
Cover short position at 710 or below as the opportunity arises.
Expect higher range of 736-900 to be tested.
Weaker opening and correction first to 698-672 can be for accumulation with a stop loss of 661.
TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Long
|
710.0
|
699.8
|
UP
|
700.5
|
6.01
|
608.0
|
672.3
|
698.8
|
736.6
|
800.9
|
*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
|
|
710.0
|
1.4
|
49948752
|
83.8
|
15567
|
-6.9
|
Indecisive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
51.36
|
2.84
|
19.59
|
156.40
|
15.85
|
-11.92
|
50.06
|
1.78
|
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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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