NCDEX Dhaniya May Weekly: Lower Range Is To Cover Short Position

Report For Date: 15/05/2017

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

The one of the major bottom formed in August 2013 is 5072 and demand zone attached with it is 5509-5072.

Demand Zone likely to provide support and the same can be tested.

Demand Zone can be used to cover short position and take profits on short position.

Traders short and holding the same can maintain the stop loss at 6025.

Lower range of 5518-5104 can be used to cover short position.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Short	5679.0	7150.4	DOWN	7192.0	13.04	5104	5518	5771	5932	6346

*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
5679.0	-2.6	69700	40.0	57700	19.5	Negative	Addition Short

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC- STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
29.60	-3.87	3.36	-30.25	-321.55	-33.98	18.23	-7.37

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.