Report for Date: 22/05/2017
MCX Nickel May 2017 Weekly: Cover Short Position
MCX Nickel (Price figures below are in Rs/INR per Kg)
Cover short position at 602.5 or below as the opportunity arises.
Expect higher range of 613.5-641 to be tested.
Weakness is below 574.
TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Short
|
602.5
|
650.7
|
DOWN
|
660.50
|
10.03
|
558.1
|
585.8
|
596.9
|
613.5
|
641.2
|
*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
|
|
602.5
|
0.6
|
41270500
|
32.8
|
35039
|
-0.4
|
Indecisive
|
Unwinding
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
39.77
|
1.77
|
28.52
|
25.20
|
-24.43
|
-3.64
|
43.00
|
9.39
|
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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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