NCDEX Dhaniya April Weekly: Expect Higher Range To Be Tested

Report For Date: 27/03/2017

NCDEX Dhaniya (Price are in INR (Rs)/Quintal)

Expect higher range of 7566-7976 to be tested.

Addition of long position has been witnessed as open interest increased with the rise and positive candle.

Bandwidth has decreased which suggest that upside could get locked at higher range.

Resistance zone can be at 7550-7877.

On further breakout and close above 7877 expect a rally to 8300 and 8730.

Weakness can resume below 7000 closing.

Weaker opening and correction first to 7316-7156 can be used for buying with a stop loss of 7000.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Long	7407.00	7387.27	UP	7407.0	24.03	6746	7156	7316	7566	7976

*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
7407.0	5.7	66780	56.3	31080	0.8	Positive	Addition Long

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC- STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
51.22	13.69	66.06	50.19	-170.13	18.65	62.09	24.41

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.