NCDEX Jeera May Weekly: Pullback towards DRV is likely

Report For Date: 16/04/2018

NCDEX Jeera May Weekly: Pullback towards DRV is likely

NCDEX Jeera: (Price are in INR (Rs)/Quintal)

Traders short and holding the same can maintain the stop loss at 15755.

Pullback rise towards DRV-16318 can be witnessed if sustains above 15755.

Addition of long position has been witnessed with bullish candle as open interest increased with the rise.

Higher range for the week can be 15830-16290.

Weakness will resume below 14850.

Contrarian buy situation has emerged for a pullback towards DRV-16318.

Weaker opening and correction to 15545-15370 can be used for buying with a stop loss of 14850.


TREND INFORMATION WITH WEEKLY LEVELS

CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
15655.0	16318.6	DOWN	17690	22.12	14910	15370	15545	15830	16290

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*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
15655.00	1.6	15105	46.0	5007	47.6	Positive	Addition Long

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
39.55	6.68	78.81	22.43	-975.10	5.88	46.92	17.95

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.