Report For Date: 06/03/2017
NCDEX Dhaniya (Price are in INR (Rs)/Quintal)
Traders short and holding the same can maintain the stop loss at 7129.
The demand zone since the year 2015 is 6600-6045.
Support was witnessed at the demand zone in the year 2016 and a rise to 8730 was witnessed.
Once again the low last week was of 6410 and closed at 6854.
The demand zone was once again tested.
A breakout and close above 7129 can mark a reversal.
Lower range of 6510-5921 is to cover short position.
Overall the low of 6045 is not violated overall objective should remain to cover short position.
TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Short
|
6854.00
|
7449.68
|
DOWN
|
7533.0
|
16.12
|
5921
|
6510
|
6754
|
7099
|
7688
|
*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 can hold long position with DRV as the closing stop loss and close > DRV. Traders can hold short position with DRV as the closing stop loss and close < DRV.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
|
LAST CLOSE
|
PRICE G/L%
|
VOLUME
|
% V INC/DEC
|
OPEN INTEREST
|
% OI INC/DEC
|
CANDLE
|
STRATEGY
|
|
6854.0
|
1.7
|
52010
|
79.9
|
29510
|
10.4
|
Positive
|
Addition Long
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
41.00
|
5.61
|
24.14
|
78.59
|
-190.48
|
-9.83
|
36.37
|
3.01
|
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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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