Report For Date 8/06/2015
NCDEX COC June :( Price in Rs/Quintal)
A correction of the rise from 1382 (January 2015) to 1907(May 2015) is in progress.
The 23.6% and 38.2% retracement are placed at 1783 and 1685 respectively.
The DRV is at 1718.
Bearish candle on weekly chart has been witnessed which suggest that near term correction toward the DRV and 38.2% retracement is likely to happen in near term.
Therefore, traders long can exit the same on rise from 1756 to 1817 range as the opportunity arises.
Expect lower range of 1724-1631 to be tested.
Traders long need to maintain the stop loss at 1740 with the objective to exit long on the rise.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Exit long
|
1756.0
|
1718.6
|
UP
|
1412.0
|
12.12
|
1631
|
1724
|
1785
|
1817
|
1910
|
*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
|
1756.0
|
-3.9
|
142840.0
|
-32.8
|
62380
|
-22.4
|
Negative
|
Unwinding
|
TECHNICAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
STOCHASTIC
|
1-ROC
STOCHASTIC
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
61.77
|
-12.37
|
28.90
|
-35.84
|
99.63
|
-5.86
|
44.56
|
-10.35
|
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.