Report For Date: 16/10/2017
NCDEX Dhaniya November 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 5079..
Cover short position at 4862 to 4566 as the opportunity arises.
Breakdown will be below 4566 and till then cover short position.
Sell is below 4566.
Resistance at higher range is at 5374.
Breakout and weekly close above 5373 can set in uptrend rally and broadly till then expect
resistance and profit booking pressure.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
4862
|
5454
|
DOWN
|
7192.0
|
13.04
|
4581
|
4777
|
4889
|
4973
|
5169
|
*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
|
4862.0
|
-1.5
|
39070
|
-21.2
|
27200
|
5.5
|
Indecisive
|
Addition long/Short
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
38.17
|
-3.02
|
35.74
|
-4.02
|
-368.38
|
4.86
|
40.61
|
-10.11
|
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.