NCDEX Dhaniya July Weekly: Near Term Pullback Possible

Report For Date: 19/06/2017

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

Cover short position at 5062 or below as the opportunity arises.

Expect a rise towards 5250-5700.

Addition of long position in a down trend is seen therefore expect a pullback towards DRV.

DRV is at 5946.

Swing bottom is in place and as long as 4650 is not violated pullback with sideways volatility towards DRV could be seen.

Bandwidth is rising and another higher low and higher high with bullish candle can extend the rise towards DRV.

TREND INFORMATION WITH WEEKLY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Short	5062.0	5946.5	DOWN	7192.0	13.04	4350	4800	4987	5250	5700

*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
5062.0	5.9	37580	-10.7	43780	2.9	Positive	Addition Long

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC- STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
29.56	23.71	12.72	27.55	-633.27	-3.67	23.54	78.35

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.