Report For Date: 04/09/2017
NCDEX Dhaniya October Weekly: Lower Range Is To Cover Short Position
NCDEX Dhaniya (Price are in INR (Rs)/Quintal)
Traders short and holding the same can maintain the stop loss at 5405.
Resistance will be at 5154-5289.
Expect lower range of 4935-4581 to be tested.
Lower range can be used to cover short position.
Exit long and sell on rise from 5154 or above with a stop loss of 5404.
Breakout and close above 5547 with bullish candle at the end of the week can mark a reversal and till then use rise to exit long.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
5070.00
|
5546.54
|
DOWN
|
7192.0
|
13.04
|
4581.3
|
4935.3
|
5154.7
|
5289.3
|
5643.3
|
*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
|
5070.0
|
-2.0
|
32230
|
45.2
|
26590
|
41.5
|
Indecisive
|
Addition long/Short
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
38.78
|
-3.52
|
66.88
|
37.30
|
-491.23
|
6.47
|
43.88
|
7.43
|
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.