Report For Date: 09/04/2018
NCDEX Chana May: Cover short position
NCDEX Chana (Price are in INR (Rs)/Quintal)
Addition of long position has been witnessed as open interest increased with the rise and
positive candle which indicates addition long position.
Cover short position at 3826 or below as the opportunity arises.
Expect higher range of 3862-3947 to be tested.
Weakness will resume below 3765.
Overall downside momentum is below 3600 and till then lower range can be used to cover short position.
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
-
|
3826.0
|
3923.7
|
DOWN
|
N/A
|
N/A
|
3692
|
3777
|
3813
|
3862
|
3947
|
*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. Positional Traders: If trend is up then traders long can hold long position with closing stop loss of DRV: Close >DRV. If trend is down then traders can hold short position with a closing stop loss of DRV: Close <DRV.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
LAST CLOSE
|
PRICE G/L%
|
VOLUME
|
V -G/L%
|
OPEN INTEREST
|
OI -G/L %
|
CANDLE
|
POSITION
|
3826.0
|
1.0
|
150450
|
30.4
|
70670
|
46.3
|
Positive
|
Addition Long
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
35.02
|
-10.08
|
32.13
|
-14.57
|
-350.52
|
-0.70
|
33.51
|
-12.95
|
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.