NCDEX Coc May Weekly: Trend Still Firm

Report For Date 20/04/2015

NCDEX COC May :( Price in Rs/Quintal)

Trend is up and steep therefore traders long can keep the stop loss at 1699.

Correction can be witnessed below 1699.

Expect higher range of 1804-1885 to be test.

Higher range can also be used to take profits.

Further breakout and close above 1820 can extend the rise.

Potential target level of 1819 has been tested.

In the event of a further breakout and weekly close above 1820, COC can rally towards 2090 and 2346 in medium term.

It depends on how 1699 is held from here on.

Correction if witnessed can form higher bottom.

Sustainability can be key from here on for higher target of 2090 and 2346. The higher target could be visit possible post correction.

The support of 1699 can be critical for near term.

TREND INFORMATION WITH INTRA-DAY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
Hold Long	1776.00	1619.62	UP	1467	30.01	1642	1723	1752	1804	1885

*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
1776.00	0.57	246020	-1.98	91530.00	-2.66	Indecisive	Unwinding

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
76.43	0.70	83.36	-4.35	65.48	16.87	65.42	-9.65

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.