Report For Date: 29/01/2018
NCDEX Jeera: (Price are in INR (Rs)/Quintal)
On C1 chart, we have a huge gap from 21000 to 16430 on account of change of season, fundamental reasons and new crop details/information.
On C1 chart a correction down to 50% of the rise from 9665 to 22360.
The 50% is at 15975 and low last week for March contract is 16335.
Last 4 week, it has shown lower high and lower low with negative/bearish candle suggesting the price down trend.
Expect lower range of 16292-15972 and pullback reversal is above 16655.
Traders by chance short need to maintain the stop loss at 16655.
The retracement levels are at 15975 and 14530.
Resistance for the week can be at 16473-16612-16655.
A higher low and higher high this week can stop the fall for a near term rise.
A fall and close below 16335 will continue the down move.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
-
|
16430.0
|
19719.6
|
DOWN
|
16430.0
|
25.01
|
15972
|
16292
|
16473
|
16612
|
16932
|
.
*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: If trend is up then traders long can hold long position with closing stop loss of DRV: Close >DRV. If trend is down then traders can hold short position with a closing stop loss of DRV: Close <DRV.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
LAST CLOSE
|
PRICE G/L%
|
VOLUME
|
% V INC/DEC
|
OPEN INTEREST
|
% OI INC/DEC
|
CANDLE
|
POSITION
|
16430.0
|
-0.8
|
4362
|
-55.3
|
10293
|
6.3
|
Negative
|
Addition Short
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
31.66
|
-45.30
|
12.24
|
-52.77
|
246.02
|
-60.34
|
19.27
|
-64.01
|
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.