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.