Report For Week Dated: 23/03/2015
Nickel Weekly C1 (Price figure in INR (Rs)/Per Kg)
Cover short position at 880.10 or below.
Resistance is at 894.
Further breakout and close above 895 can show a short term rally.
The lower top is at 920.
Support will be at 874-854-847.
Overall the movement for short term will be between 920 to 847.
Expect higher range of 900-946 range for the week.
Overall weakness will resume below 847.
The bias is to move higher with volatility for the week.
WEEKLY TREND INFORMATION WITH WEEKLY LEVELS
|
STRATEGY
|
CLOSE
|
WRV
|
TREND*
|
Trend Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Cover short
|
880.10
|
955
|
DOWN
|
991
|
19.12
|
808
|
854
|
874
|
900
|
946
|
*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
|
|
880.10
|
-1.42
|
37659248
|
-6.23
|
7149.00
|
11.20
|
Indecisive
|
Addition long/Short
|
TECHNICAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
39.44
|
-3.43
|
46.70
|
28.04
|
-37.46
|
-0.18
|
41.14
|
-8.37
|
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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