Report For Date: 19/02/2018
NCDEX Dhaniya (Price are in INR (Rs)/Quintal)
Further rise is above 6021 closing.
Correction towards lower range of 5361-4991 can be tested before making attempts to move higher above 6021.
The 61.8% retracement of the Wave d is at 4980.
Support could be established at 4980-4750 and further down towards 4550-4272.
A falling wedge appears to be in place for long term and Wave d appears to be complete.
Wave e is likely to be in progress in near term.
Resistance will be at 5601-5731.
Lower levels are likely to be tested before reversing up and moving higher.
TREND INFORMATION WITH WEEKLY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
-
|
5492.0
|
5413.0
|
UP
|
5673.0
|
12.01
|
4991
|
5361
|
5601
|
5731
|
6101
|
*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
|
5492.0
|
-3.9
|
13840
|
3.4
|
23250
|
1.8
|
Negative
|
Addition Short
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
51.97
|
-7.58
|
60.18
|
-21.47
|
118.20
|
-8.17
|
43.81
|
-18.42
|
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.