Report For Date: 02/03/2019
NCDEX Dhaniya (Price are in INR (Rs)/Quintal)
Traders short and holding the same can maintain the stop loss at 6415.
Correction will end on rise and close above 6415 with bullish candle can mark a swing bottom.
Expect support at lower range of 6112 to 5797.
The 61.8% retracement of the rise from 4813 to 7925 is at 5954.
Accumulate at 5954 or below with a stop loss of 5797 on a contrarian view.
Once the reversal is witnessed then expect rally to get back to the last lower top of 7925 in due course of time.
Reversal process can resume above 6415.
Traders can by if sustains above the weekly open and above 6415 with low of the week as the stop loss or 6150 whichever is lower.
TREND INFORMATION WITH WEEKLY LEVELS
CLOSE
|
WRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
6201.00
|
6576.93
|
DOWN
|
6865.5
|
11.01
|
5897
|
6112
|
6239
|
6327
|
6542
|
*Trend will remain Down as long as last close is below the pink color WRV. Trend will be Up as long as Price is above WRV. Positional Traders can hold long position with WRV as the closing stop loss and close > WRV. Traders can hold short position with WRV as the closing stop loss and close < WRV.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
LAST CLOSE
|
PRICE G/L%
|
VOLUME
|
% V INC/DEC
|
OPEN INTEREST
|
% OI INC/DEC
|
CANDLE
|
STRATEGY
|
6201.0
|
-0.5
|
24010.0
|
44.5
|
26190.0
|
-3.5
|
Indecisive
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC-
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
43.28
|
-1.48
|
25.55
|
47.79
|
45.14
|
-44.69
|
31.05
|
-0.54
|
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.