NCDEX Jeera May Weekly: Higher Range Is To Exit Long

Report For Date: 17/04/2017

NCDEX Jeera: (Price are in INR (Rs)/Quintal)

The supply zone is at 19355-20350.

Last week, we saw inverted hammer candlestick pattern with a high of 19745.

The occurrence of the candlestick pattern is at resistance and supply zone.

Therefore, further rally is above 20350 closing.

Rise to higher range of 19223-19527-20352 can be used to exit long and take profits.

Expect lower range of 18702-17877 to be tested.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Long	19005.0	17699.4	UP	18145.0	24.03	17877	18702	19223	19527	20352

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*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 INC/DEC	OPEN INTEREST	% OI INC/DEC	CANDLE	POSITION
19005.0	-0.6	48537	-8.9	18522	14.8	Indecisive	Addition long/Short

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
61.91	-1.71	78.16	0.20	255.15	53.95	70.60	-1.95

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.