Report For Week Dated: 27/04/2015
Nickel Weekly (Price figure in INR (Rs)/Per Kg)
Cover short position at 851.9 or below.
Near term outperformance can be witnessed in Nickel.
Trend is still down but pullback rise towards DRV-907 or above can be witnessed.
Addition of long position has been witnessed as contrarian buy situation has emerged.
Trend still down but reversal candle and addition of long position suggest that contrarian buy signal has emerged.
Further weakness can be seen below 775.
Support and intra-week correction to 831-808 can seen before moving higher.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
WRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Short
|
851.9
|
907.0
|
DOWN
|
998
|
19.12
|
743.1
|
808.7
|
831.1
|
874.3
|
939.9
|
*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 weekly closing stop loss of DRV: Close >DRV. If trend is down then traders can hold short position with a weekly 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
|
|
851.9
|
7.1438
|
3663000
|
121.1957
|
4126
|
108.0686
|
Positive
|
Addition Long
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
40.66
|
34.83
|
30.53
|
50.99
|
-48.41
|
5.18
|
28.42
|
63.59
|
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.
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