Report For Date: 23/10/2017
NCDEX Dhaniya November Weekly: Cover Short Position
NCDEX Dhaniya (Price are in INR (Rs)/Quintal)
Cover short position at 5007 or below as the opportunity arises.
Expect higher range of 5102-5355 to be tested.
Addition of long position has been witnessed.
The lower tops of 5189 and 5310 is likely to be tested for resistance.
On breakout and close above 5310 expect a rally to emerge.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Short
|
5007
|
5234
|
DOWN
|
7087.0
|
13.04
|
4596
|
4849
|
4943
|
5102
|
5355
|
*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
|
5007.0
|
14.4
|
21320
|
70.3
|
23980
|
4696.0
|
Positive
|
Addition Long
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
47.40
|
38.18
|
49.86
|
165.64
|
-386.77
|
12.98
|
58.44
|
75.58
|
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.